(ECO) ERDOGAN SAYS FAILURE IN IMF DEAL NOT END OF ECONOMY.

ANKARA, Oct 10, 2009 (TUR) -- The Turkish premier said on Friday that failure in a deal with the International Monetary Fund (IMF) would not be the end of Turkish economy.

Turkey's Prime Minister Recep Tayyip Erdogan said that a deal with the IMF would speed up economic recovery.

"However, failure in reaching a deal with the IMF is not the end of Turkish economy because Turkey has gained experiences from crisis during the 1990s, 2000 and 2001," Erdogan said in an interview with international news channel CNBC.

Erdogan said not a single bank had bankrupted in the current crisis.

On Tuesday, Erdogan said that talks on a possible loan deal between Turkey and the IMF would continue with technical works after Istanbul meetings.

The IMF and World Bank held their annual meetings in Istanbul on October 6-7.

Turkey and IMF, the Washington-based lender, have been holding talks on a possible loan deal for months. In May, Turkey completed a 10-billion USD stand-by arrangement with IMF. In July, Erdogan had said his government was eager to strike a deal with the Fund ahead of an international IMF meeting in Istanbul scheduled for October.

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