Turkey''s top treasury official on IMF board

Turkish Treasury Undersecretary Ibrahim Canakci, a key figure in reducing government debt over the past decade, will leave his post for a position with the International Monetary Fund in November, the treasury said on Thursday.

The decision follows recent reforms to the fund's management to reflect the influence of emerging economies. "Turkey, for the first time in its history, has gained the right to directly participate on the IMF executive board," the statement said.

The Canakci was appointed to the treasury's top post in May, 2003, and built a reputation among investors as a quiet anchor of stability, helping to bolster Turkey's international credibility.

Turkey's government debt has fallen to around 36 percent of GDP from some 74 percent when Canakci first took office.

The treasury said Canakci had been appointed an executive director at the IMF and would be Washington-based from Nov. 1.