Turkey's new government gets IMF vote of support

September 30, 1980

The International Monetary Fund has released $92 million in fresh credits to Turkey. The release of the cash is seen as a sign that the fund accepts the word of Turkey's new military leaders that the economic stabilization program started by the ousted right-wing civilian government of Suleyman Demirel will be continued. Perhaps more important than the latest IMF move itself, financial experts say, is that Western governments and commercial banks have tended to follow the fund's lead in gauging creditworthiness.