TURKEY FIRST IN WORLD FOR ITS AMOUNT OF FOREIGN DEBT TAKING LEAD OVER ARGENTINE

PanARMENIAN.Net - The International currency fund has approved of provision of $16 billion credit to Turkey within the framework of the program of the economic aid for this country that has been the third for the two recent years. As Azeri media reports, 12 billion out of the allotted means is a new credit and 4 billion will be used according to the program adopted earlier. The means will be used to cover the budget deficit in 2002. It is expected that the new credit would allow mitigating the results of the current economic stagnation. According to experts, the current crisis has been the worst one for the last 50 years. When Turkey has received the credit, it will become the main debtor of the ICF with the $31 billion debt, leading over Argentine, the debt of which is $22 billion. It should be reminded that two months ago the ICF allotted the regular $3 billion trench to Turkey to stop the economic crisis in the country. The observers connect the ICF's special attitude toward Turkey with Ankara's support for the US military operation in Afghanistan. When commenting the current situation, «Gyunay» Baku newspaper wrote, «if there were not terrorist acts in New York, the ICF that is under US patronage would have never allotted credits worth billions. So, thanks to Usama bin Laden and may his father rest in peace!»