Turk gov’t may fire Oztrak

ANKARA (Reuters) – Turkish Treasury Undersecretary Faik Oztrak, possibly set for replacement in the coming weeks, will not travel to the USA for talks with international lenders next week, officials said yesterday. Economy Minister Ali Babacan on Tuesday hinted that Oztrak, appointed under former Economy Minister Kemal Dervis, may soon be replaced. Financial markets have already been upset by changes in the management of state banks and are concerned that Oztrak’s replacement may not immediately master the details of Turkey’s huge domestic debt load. Babacan and a team of senior economy officials are to fly to Washington today for talks with the IMF and the World Bank.