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November 1- TOBB requested for a decrease in VAT rate.
November 2- The Competition Board allowed durable goods producer Arcelik to set up a joint venture with South Korean-origin LG Electronics, Guney Holding and Bagir Co. SDIF decided to open talks with Nova Bank on sale of Sitebank shares.
November 3- Annual inflation rate was announced as 81.4 percent in consumer prices and as 66.5 percent in consumer prices.
November 5- 20 million TL of banknote was put into circulation. Within framework of reducing overnight borrowing requirement of state banks and SDIF-controlled banks, Central Bank changed 15.8 quadrillion TL of domestic borrowing notes with 18.8 quadrillion TL of long-term notes. Finance Ministry reduced VAT rate for some goods from 26 to 18 percent until end of the year. Under the law, Central Bank started not to give loan and to advance money to Treasury.
November 6- The decision on payment of support to cotton, sunflower oil, soybean, kanola and olive oil producers was released.
November 7- Barmek Holding bought Baku electricity distribution for 25 years.
November 9- U.S. Textron and Hema Industry signed 50 million U.S. dollars of partnership agreement. TAI handed over completely domestic production 15 remote-controlled target planes to the Turkish Armed Forces.
November 10- World Bank again included Turkey in high medium income countries list.
November 12- Aselsan signed a 265 million U.S. dollars of contract with Defense Industry Unersecretariat for production of Stinger missiles.
November 13- Turkey and IMF reached an agreement on a measures package for nearly 7 quadrillion TL of savings. Capital Market Board again determined the rules of dividend distribution to public limited companies.
November 14- Finance Ministry offered facility to tax payers living in quake zone regarding temporary tax. BRSA allowed Turk Ekonomi Bankasi (TEB) to examine Kentbank.
November 15- IMKB national index rose by 5.24 percent and U.S. dolar decreased as a result of expectation of a supplemenary IMF source. IMF Managing Director Horst Koehler said that Turkey had fulfilled the necessary performance criteria. Turkbank re-started offering banking services. Mehmet Baspinar was appointed as the MKEK Director General and Murat Kaya was appointed as the Postal Affairs Director General.
November 16- IMF announced that it would give a 10 billion U.S. dollars of supplementary source to Turkey in 2002. Savings measures in public sector were announced.
November 17- World Bank Representative in Turkey Ajay Chhibber said that they would give financial support to city-village projects.
November 18- Agriculture and Rural Affairs Ministry increased the incentive priming to 10 thousand TL per 1 liter of milk and increased fosterage to 20 million TL per one animal.
November 19- Philips Petroleum and Conoco companies merged.
November 20- Procurement bill was submitted to the parliament. Aycell started to accept subscribers.
November 23- An auction was opened for sale of SDIF-controlled banks` deposits to commercial banks in return for domestic borrowing notes.
November 24- Discount campaigns aimed to re-activate markets and provide for cash flow started.
November 27- Only one of the 12 immovables of Treasury which had been put up for sale for 92.2 trillion TL was sold.
November 28- IMF approved 3.1 billion U.S. dollars tranche of loan to Turkey. The agreement on operation of Ipsala Border Gate by TOBB for 10 years with build-operate-transfer model was signed.
November 29- IMF warned that number of public sector personnel should be decreased and their salaries should be cut. Economic Development Foundation (IKV) Chairperson Meral Gezgin Eris who ran for ISO chairmanship but couldn`t win the elections resigned but later continued to serve as IKV Chairperson. BRSA announced that Iktisat Bankasi would be closed down as of December 7.
November 30- The government and TOBB reached an agreement on support to real sector and this support package was announced. Toprakbank was transferred to SDIF. Standard and Poor`s changed outlook on Turkey from negative to stable. It was announced that the growth rate in the third quarter of 2001 was -8.5 percent.
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