Turkish Treasury to repay over $21.2B debt in March-May

ANKARA

Turkey's Treasury will repay debts worth 157 billion Turkish liras (around $21.2 billion) in March-May.

It will repay 40.6 billion Turkish liras ($5.5 billion) in external debts with 11.1 billion lira ($1.5 billion) in interest payments, the Treasury and Finance Ministry announced Friday.

In the next three months, 116.5 billion Turkish liras (around $15.7 billion) of domestic debt redemption is also projected -- 20% of this amount will be interest payments, while the rest will be the principal payment.

According to the ministry's borrowing strategy, the Treasury will borrow 128.2 billion Turkish liras ($17.3 billion) from domestic markets from March to May.

The Treasury has projected to hold 23 bond auctions and a direct sale of lease certificates -- no planned external borrowing -- during this period.