|
Table
1. Turkey: Quantitative Performance Criteria and Indicative Targets
|
March
31,2001 |
May
31,2001 |
June
30,2001 |
July
31,2001 |
September
30, 2001 |
December
31,2001 |
|
Ceiling/Floor |
Outcome |
Ceiling/Floor |
Outcome |
Ceiling/Floor |
Outcome |
Ceiling/Floor |
Ceiling/Floor |
Ceiling/Floor |
|
I. Performance criteria |
|
|
|
|
|
|
|
|
|
|
1. Floor on the cumulative primary balance of the consolidated government
sector (in trillions of Turkish lira) |
1.850 |
3.560 |
3.250 |
6.228 |
… |
… |
4.250 |
6.200 |
9.250 |
|
2. Ceiling on contracting or guaranteeing of new external public
debt (in millions of US$) |
5.500 |
1.035 |
… |
… |
7.500 |
1.783 |
… |
12.000 |
17.000 |
|
3. Ceiling on the stock of public short-term external debt outstanding
(in millions of US$) |
1.100 |
1.000 |
… |
… |
2.100 |
0 |
… |
2.100 |
2.100 |
|
4. Ceiling on the cumulative primary expenditure of the central
government (in trillions of Turkish lira) |
5.830 |
5.480 |
11.400 |
10.950 |
… |
… |
17.450 |
24.150 |
35.460 |
|
|
|
|
|
|
|
|
July-Aug, 2001 |
Sept-Oct, 2001 |
Nov-Dec, 2001 |
|
5. Floor on change in net international reserves (in millions
of US$)
[1]
|
… |
… |
-1.500 |
-837 |
-3.562 |
-3.059 |
-2.500[2]
|
-2.600 |
-600 |
|
|
|
|
|
|
|
|
Agu 31, 2001 |
Oct 31, 2001 |
Dec 31, 2001 |
|
6. Ceiling on the stock of net domestic assets of the CBT (in trillions
of Turkish lira) |
0 |
5.117 |
9.750 |
7.942 |
13.250 |
12.943 |
17.250 |
21.150 |
22.400 |
|
II. Indicative targets |
|
|
|
|
|
|
|
|
|
|
1. Floor on the cumulative overall balance of the consolidated government
(in trillions of Turkish lira) |
-2.620 |
-1.945 |
-4.750 |
-4.398 |
… |
… |
-11.750 |
-18.150 |
-26.450 |
|
|
|
|
|
|
|
|
Agu 31, 2001 |
Oct 31, 2001 |
Dec 31, 2001 |
|
2. Ceiling on base money (in trillions of Turkish lira) |
… |
… |
5.900 |
5.815 |
6.050 |
6.247 |
7.175 |
7.550 |
7.750 |
[1] Floors
correspond to changes in NIR during the period specified in Annex F
of the Memorandum on Economic Policies attached to the May 3, 2001 Letter
of Intent.
[2]
Includes $500 million carryover from previous period.
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