PM aims for IMF progress

Bloomberg

Erdoğan said in Ankara that he would oppose any changes to the tax system that could spark a flight of capital and have a "negative impact on liquidity."

In a related development, Turkey won’t have to repay any money to the IMF for the remainder of this year after the fund relaxed its payment schedule for debtor countries, the Treasury said.

A March 24 ruling from the fund means $2.1 billion falling due this year has been rescheduled, the Treasury in Ankara said. Under the new plan, Turkey’s last installment will be made in 2013 rather than 2012. Turkey’s total debt to the fund stands at $7.6 billion.