Table 1.  Turkey: Quantitative Performance Criteria and Indicative Targets
	Mart 31, 2001			Mayıs 31, 2001			Haziran 30, 2001			Temmuz 31, 2001					Eyl. 30, 2001			Ara. 31, 2001
	Ceiling/Floor	Outcome		Ceiling/Floor	Outcome		Ceiling/Floor	Outcome		Ceiling/Floor		Outcome			Ceiling/Floor	Outcome		Ceiling/Floor		Outcome
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	6.288		...	...		4.250			7.330		6.200	10.301		9.250
2.  Ceiling on contracting or guaranteeing of new external public debt
(in millions of US$)	5.500	1.035		...	…		7.500	1.783		…		…	…		12.000	3.067		17.000
3.  Ceiling on the stock of public short-term external debt outstanding
(in millions of US$)	1.100	1.000		...	…		2.100	0		...		…	...		0	0		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			16.890		24.150	22.961		36.050
										July-Aug., 2001					Sept.-Oct., 2001			Nov.-Dec., 2001
5.  Floor on change in net international reserves (in millions of US$) 1/	...	...		-1.500	-838		-3.562	-3.059		-2.500			-1.370		-3.250	-304	2/	-3.546			3/
										Ağu. 31, 2001					Eki. 31, 2001			Ara. 31, 2001
																		(indicative
6.  Ceiling on the stock of net domestic assets of the CBT 4/ 5/																		limit)
(in trillions of Turkish lira)	0	5.117		9.750	7.942		13.250	12.943		17.250			16.437		21.150	17.933		22.400
II. Indicative targets
1.  Floor on the cumulative overall balance of the consolidated government
sector  (in trillions of Turkish lira)	-2.620	-1.945		-4.750	-4.398		...	...		-11.750			-12.074		-18.150	-18.025		-27.800
										Ağu. 31, 2001					Eki. 31, 2001			Ara. 31, 2001
																		(performance
																		criterion)
2.  Ceiling on base money (in trillions of Turkish lira) 5/	...	...		5.900	5.815		6.050	6.247		7.175			6.748		7.550	7.141		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. Excludes any carryover from previous period.
2/ Includes $650 million carryover from previous period.
3/ Includes $2946 million carryover from previous period.
4/ Net domestic assets are defined as base money less the net foreign assets of the CBT valued in Turkish lira at end-July 2001 actual exchange rates.
5/ For end-December, the ceiling on net domestic assets will be an indicative target; the ceiling on base money a performance criterion.