Turkish Treasury to repay $7B-debt in Aug-Oct

By Muhammed Ali Gurtas

ANKARA

Turkish Treasury will repay debts worth 34.6 billion Turkish liras ($7 billion) in the next three months, the Ministry of Treasury and Finance announced on Tuesday.

Nearly 40 percent of these payments would go to external creditors.

From August to October, the Treasury will repay 13.8 billion Turkish liras ($2.8 billion) of external debts, including 6 billion liras ($1.2 billion) interest payment.

During this period, nearly 21 billion liras ($4.2 billion) of domestic debt redemption is also projected -- 72.7 percent of this amount will be interest payment while the rest will be principal payment.

According to the domestic borrowing strategy, the ministry has projected 23 billion liras (around $4.7 billion) of domestic borrowing from the market through auctions and from public institutions, while there will be no planned external borrowing in the August-October period.