From Turkish News Digest

US fighter plane crashes in Turkey

Friday, July 20 @ 04:40:30 GMT (1 reads) in News

A US air force F-16 fighter plane has crashed in south-eastern Turkey. The aircraft was on its way to patrol the no-fly zone over northern Iraq when it went down.

It had taken off from Incirlik air base in southern Turkey and crashed near the town of Diyarbakir, about half way between Incirlik and the Iraqi border. The pilot, Lieutenant Michael A Nelson Jr, was rescued after parachuting to safety.

Turkish Markets Recover

Friday, July 20 @ 04:37:30 GMT (1 reads) in Economy

Turkey's financial markets regained ground Wednesday after the resignation of a minister seen as an obstacle to an economic recovery program backed by the International Monetary Fund (news - web sites).

Enis Oksuz, the minister of transport and communications, resigned late Tuesday after a day of financial turmoil that saw the lira slide 8 percent to its lowest-ever level against the dollar while interest rates soared. His departure has eased fears that the program was on the verge of collapse.

Press Scans: Ecevit:''State Minister Dervis Has Tough Task''

Thursday, July 19 @ 12:39:07 GMT (1 reads) in News

When journalists asked Prime Minister Bulent Ecevit if State Minister Kemal Dervis can join the Democratic Left Party (DSP) in order to ease the concerns of the Nationalist Movement Party (MHP), Ecevit said that ''Mr. Dervis has very tough tasks for the moment. I don't think that Dervis's joining our political party now is suitable as this will bring the influence of politics on his tasks.''

Here We Go Again

Thursday, July 19 @ 12:32:22 GMT (1 reads) in Editorial

Even though Turkey and Indonesia are very different countries, they do have something in common: long histories of bad money. When Turkey joined the International Monetary Fund in 1947, 2.8 Turkish lira would fetch one U.S. dollar. Now it's 1.2 million lira. That's a depreciation of 429,000 times against the dollar. The Indonesian rupiah is even worse off. Since Indonesia's independence in 1949, the rupiah has depreciated more than 2.9 million times against the dollar.

Transport Minister Enis Oksuz Resigns

Thursday, July 19 @ 02:49:55 GMT (3 reads) in News

The Turkish transport and communications minister, Enis Oksuz, who is seen as a key opponent of Turkey's economic recovery programme, has resigned from the government.

Mr Oksuz has clashed repeatedly with the economy minister, Kemal Dervis - the architect of a reform programme backed by International Monetary Fund and World Bank credits.

Press Scans: MHP ''There's no need for mediator''

Wednesday, July 18 @ 12:40:07 GMT (3 reads) in News

Mehmet Sandir, the Nationalist Movement Party (MHP) Acting Group Chairman, said they thanked to Mr. Ecevit for his efforts, noting that they did not need a mediator. Sandir said, Devlet Bahceli, the MHP leader, would talk to Kemal Dervis, the State Minister responsible for economy, if he wanted.

EU warns Turkey it can't block plans to use NATO facilities for European defense

Wednesday, July 18 @ 12:22:10 GMT (1 reads) in News

The European Union warned Turkey on Monday that it would not allow that nation to permanently block EU plans to set up a defense force that would use NATO's military facilities.

"The foreign and security policy of the European Union cannot be dependent on an outside country," said Belgian Foreign Minister Louis Michel, who spoke for the 15-nation bloc after a meeting.

"We hope Turkey will understand that the European Union will not give in to such pressure."

Argentina, Turkey Get Buffeted

Wednesday, July 18 @ 12:00:48 GMT (0 reads) in Economy

The financial upheaval in Argentina and Turkey took new turns for the worse yesterday as investors continued to exit both countries' markets despite moves by their governments to shore up confidence.

As the turmoil intensified, the International Monetary Fund disclosed that Horst Kohler, its managing director, has cut short a European trip to return to the IMF's Washington headquarters today. Kohler's move, which the IMF ascribed to "the press of business," was one of the clearest signs to date of the concern among top economic policymakers about the emerging-market crises.

Turkish woman breaks free-dive record

Wednesday, July 18 @ 11:58:03 GMT (7 reads) in News

Yasemin Dalkilic, 22, from Ankara, broke her previous best in the limited variable ballast category 16.5 feet.

Dive organizer Abou Bakr Ahmed, from the Divers Lodge dive center in in the Red Sea resort of Hurghada, said the dive took 2 minutes 38 seconds to complete.

The limited variable ballast category involves the diver descending on a weighted sled and returning to the surface under their own power.

Turkey cheers loan resumption

Saturday, July 14 @ 17:46:20 GMT (4 reads) in News

Turkish financial markets have rallied strongly, after the International Monetary Fund (IMF) and World Bank agreed to resume their lending programmes.

Turkish stocks have taken a battering, and the lira has plumbed a series of record lows, since the IMF suspended an economic rescue package two weeks ago, citing government foot-dragging over vital reforms.