Turkish Treasury plans to repay $9.4B debt in March-May

By Muhammed Ali Gurtas

ANKARA

Turkish 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 period of March-May this year, the Undersecretariat of Treasury announced on Wednesday.

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

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

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, while 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.