Turkish markets unsure of IMF deal

ISTANBUL (Reuters) – Turkish markets weakened yesterday as uncertainty surrounded the first review of a new International Monetary Fund loan pact and due to profit-taking in foreign exchange and stock markets. «The market can move with caution (in coming days) because Turkey failed to enact social security reform… and June consumer price inflation came in above expectations,» one banker said. The IMF has firmly said the reform was a condition to go ahead with the release of some $800 million in a loan tranche.

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