Turkey disagrees with the International Monetary Fund (IMF) on the level of spending for local administrations and the details of the new shape of the relations would be discussed during Group of 20 meetings, deputy prime minister said.

Nazim Ekren said it is not easy to be specific on the future relations with IMF. "It is because of two major issues we have," he said.

Ekren, however, added that the size and extent of the funds that would be transferred to local administrations are creating problems with the IMF.

Turkey's 10-nillion dollar stand-by agreement with the IMF has expired in May. The government is yet to decide on the future shape of the relations with IMF amid global turmoil.

Market players have been piling pressure on government to include new financing from the Fund, while Turkish Prime Minister rejects calls as well as possible cost-cutting demands from IMF ahead of the local elections.

Ekren, who supervises economic coordination, also said Turkey has sufficient foreign exchange reserves for its banks to roll over their debt.