Chhibber: Turkey Is Rapidly Getting Rid Of Economic Crisis
Friday, December 20 2002 @ 04:10 PM MSK
ANKARA - World Bank Turkey Director Ajay Chhibber has said that Turkey was rapidly getting rid of economic crisis.
Chhibber held a conference on ''Leadership and Social Peace: World Bank Perspective'' at the TED Ankara College Foundation Private High School in Ankara on Thursday and gave information on World Bank activities in Turkey.
Chhibber stressed that the economic program and reforms had been effective in getting rid of the economic crisis.
Noting that they did not assist Turkey not only in fields of macro economic fields, Chhibber said that under the three-year Country Assistance Strategy, they supported also projects about direct production and real economy and projects which had social dimension.
When a college student recalled that loans given to Turkey had been more loans given to Argentina and asked which kind of criteria had played role in this, Chhibber said that he did not know the comparison with Argentina but necessary amount of loans had been given to Turkey under the economic program, adding that Turkey had started to getting rid of economic crisis and this recovery would continue next year.
When another college student asked whether or not there had been any country that developed in a stable way as a result of World Bunk support, Chhibber said that World Bank support had played role in development of Italy, Greece and Japan and several Asian countries and that the bank had not given financial support to those countries as they had gained developed country status.
When another student asked what kind of measures they took if a country did not abide by loan conditions, Chhibber said that they firstly made recommendations and later they warned but they suspended the loan if the problem continued.