Turkey’s Treasury plans to repay $9.4 billion debt in March to May period

ANKARA – Anadolu Agency

Turkey’s Treasury will pay back 35.8 billion Turkish Liras (some $9.4 billion) of debt, 62 percent of which will go to external creditors, in the March-May period this year, the Undersecretariat of Treasury stated on Feb. 28.

According to the official plan, domestic debt redemption of 13.7 billion Turkish Liras (around $3.6 billion) is projected. Some 86 percent of this amount will be interest payments while the rest will be principal payments.

The Treasury will also repay 22.2 billion liras (nearly $5.8 billion) external debt in the next three months, including 16.4 billion liras (some $4.3 billion) principal payment.

The Undersecretariat’s domestic borrowing strategy revealed that the Treasury has projected 15.1 billion liras (around $3.9 billion) of borrowing, including borrowing from the domestic market through auctions and borrowing from public institutions. There will be no planned external borrowing.

From this March to the end of May, the Treasury will hold seven auctions to issue government bonds, the undersecretariat noted.