|
Action
|
MEP
Ref. 1/
|
Type
of Action
|
Timing
|
Status,
July 25, 2001
|
|
Banking
Sector Reform
|
|
|
|
|
|
1.
Reduce the SDIF and state banks' overnight position by at least
two-thirds from the March 16, 2001 level
|
&8
|
Condition
for the completion of the 6th and 7th reviews
|
|
Done
|
|
2.
Eliminate the SDIF and state banks' remaining overnight position
|
&8
|
Condition
for the completion of the 8th review
|
|
Done
|
|
3.
The stock of repos of the SDIF and state banks with the CBT not
to exceed TL 7 quadrillion
|
&8
|
Condition
for the completion of the 8th review
|
By
end-May 2001
|
Done
|
|
4.
Establish a common and politically independent board for Ziraat
and Halk reporting to the treasury and appoint new management
|
&10
|
Condition
for completion of the 6th and 7th reviews
|
|
Done
|
|
5.
Complete financial restructuring of state banks
|
&10
|
Condition
for completion of the 6th and 7th reviews
|
|
Done
|
|
6.
Close Emlak Bank and transfer its liabilities and some of its
assets to Ziraat Bank
|
&11
|
Condition
for completion of the 8th review
|
By
end-May 2001
|
Done
before 8th review
|
|
7.
The SDIF to recapitalize Shmerbank to cover its negative net worth
|
&12
|
Condition
for completion of the 6th and 7th reviews
|
|
Done
|
|
8.
Recapitalize the remaining seven SDIF banks to cover their negative
net worth
|
&13
|
Condition
for completion of the 6th and 7th reviews
|
|
Done
|
|
9.
Organize in a second transition bank or put into liquidation the
four banks for which there are presently no bidders
|
&13
|
Condition
for completion of the 8th review
|
|
Done
(three banks merged; one bank's closure pending court case)
|
|
10.
Sell, put into liquidation, or otherwise resolve the remaining
SDIF banks
|
&13
|
Condition
for completion of the 12th review
|
End-2001
|
One
bank sold; two others close to sale
|
|
11.
(a) Presentation by all capital-deficient banks of detailed capital
strengthening plans
(b) Finalization of commitment letters by the banks on recapitalization
plans
|
&15
&12[2]
&16[3]
|
Prior
action for 6th and 7th reviews Condition for completion of the
8th review
|
By
end-April 2001
|
Done
On
track
|
|
12.
Parliamentary approval of amendments to Banking Law
|
&16
|
Condition
for completion of the 6th and 7th reviews
|
|
Done
|
|
13.
Adopt connected lending regulation
|
&17
|
Benchmark
|
Within
one month of approval of Banking Law
|
Done
|
|
14.
Bring accounting standards for banks in line with international
standards
|
&17
|
Benchmark
|
From
the beginning of 2002
|
|
|
Fiscal
Transparency and Management
|
|
|
|
|
|
15.
Close the remaining 15 BFs (except DFIF) and 2 EBFs
|
&19
|
Benchmark
|
End-June 2001
|
Done
|
|
16.
At least halve the number of revolving funds
|
&19
|
Benchmark
|
End-2001
|
|
|
17.
Submit to parliament a Law on Public Finance and Debt Management
|
&19
|
Benchmark
|
End-June
2001
|
Done
|
|
18.
Accompany the draft 2002 budget by accounts and financial outlook
for EBFs and SSIs, revolving funds, contingent liabilities, SEEs,
and local authorities
|
&19
|
Benchmark
|
|
|
|
19.
Submit to parliament a Public Procurement Law in line with EU
standards
|
&19
|
Benchmark
|
By
October 15, 2001
|
|
|
Increasing
the Role of Private Domestic and Foreign Capital in the Turkish
Economy
|
|
|
|
|
|
20.
Parliamentary approval of legislation to facilitate Turk Telekom
privatization
|
&21
|
Prior
action for 6th and 7th reviews
|
|
Done
|
|
21.
Appointment of new professional board and management team for
Turk Telekom
|
&21
|
Condition
for completion of 8th review
|
|
Done
|
|
22.
Contract advisors to develop a corporatization plan for Turk Telekom
|
&21[3]
|
Benchmark
|
End-October
2001
|
|
|
23.
Complete privatization plan for Turk Telekom
|
&21[3]
|
Benchmark
|
End-2001
|
|
|
24.
Parliamentary approval of Tobacco Law
|
&21
|
8.
Gözden geçirmenin tamamlanması için koşul
|
May
2001
|
Done
Law
vetoed by President, and will be re-submitted to Parlia-ment in
September
|
|
25.
Passage by parliament of a law fully implementing the constitution
amendment on international arbitration
|
&22
|
Benchmark
|
Before
Parliament's summer recess
|
Done
|
|
Fiscal
Policy and Public Debt Management
|
|
|
|
|
|
26.
Approval of tax measures: (a) increase petroleum consumption tax
by 15 percent in early May; (b) increase VAT rates (except the
reduced 8 percent rate) by 1 percentage point; and (c) increase,
as of April, the minimum contribution base relevant for social
security payments in line with the existing regulations
|
&30
|
Prior
action for 6th and 7th reviews
|
|
Done
|
|
27.
Approval of supplementary budget in line with program expenditure
figures and offsetting budgetary measures listed in &6 of the
present letter
|
&34
|
Condition
for completion of 8th review
|
|
Done
|
|
28.
Enact tax regulation to extend the use of tax identification numbers
|
&34
|
Condition
for completion of 8th review
|
End-May
2001
|
Done
before 8th review
|
|
29.
Reduce the stock of private sector tax arrears from the end-2000
level of 2 percent of GNP (including interest and penalties)
|
&34
|
Benchmark
|
2001
sonu
|
|
