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U.S. Treasury-Turkey Loan Should Be Signed on Sunday
Fri September 19, 2003 01:37 PM ET By Anna Willard DUBAI (Reuters) - A senior U.S. Treasury official said on Friday $8.5 billion in U.S. loans to Turkey should be signed on Sunday. Asked when the deal, in the works since March, would be signed, Treasury Undersecretary for International Affairs John Taylor told Reuters "hopefully on Sunday." ... The first tranche of roughly $2.1 billion of the U.S. loan was expected to be paid out soon after the IMF review. President Bush offered the money to Turkey in March to compensate the country for the economic costs of the U.S.-led war in Iraq. A second condition of the loan disbursements was that Turkey must co-operate with the United States on policies toward Iraq. Turkeyâs National Security Council, where the military discusses policy with elected officials, met on Friday to discuss a U.S. request to send troops to Iraq. Investors believe a deal will guarantee the loan package and improve relations between the NATO allies after Turkey refused in March to allow U.S. forces to invade Iraq from its soil. But the U.S. Treasury has said disbursements do not depend on whether Turkey agrees to the troop request. National Security Council did not endorse the troop request today, but the Turks will still get the money. Why? What is so special about them? Posted by: . 2003-09-19 |
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