Seeking a three year IMF deal

Bloomberg

The country wants a "flexible" agreement without front-loaded payments, Şimşek told a group of Turkish newspaper editors in Istanbul, according to his spokeswoman Sibel Tokgöz.

Şimşek didn’t specify the size of the loan Turkey is seeking and declined to say how much the government will have to reduce spending in order to win the assistance. Turkey agreed to resume talks with the IMF this month after negotiations broke down in January over government spending and steps to tighten tax inspection. The nation needs support to bolster investor confidence, buoy the lira and cut its borrowing costs on international markets.

Prime Minister Recep Tayyip Erdoğan’s government owes the IMF about $7.6 billion for loans received under an agreement that expired last year. Those payments would continue as scheduled under a new accord, Şimşek said Saturday.