The Turkish Treasury will repay debts worth 89.9 billion Turkish liras (some $10.74 billion) in the next three months, the Treasury and Finance Ministry announced on Friday.
The Treasury will repay 12.2 billion Turkish liras ($1.46 billion) in external debts, including 5.3 billion Turkish liras ($633.29 million) in interest payments, during the November 2020-January 2021 period.
For the next three months, 77.7 billion Turkish liras ($9.3 billion) of domestic debt redemption is also projected — with around 28 billion Turkish liras ($3.34 billion) of this amount in interest payments, while the rest is in principal payment.
According to the ministry’s borrowing strategy, the Treasury will borrow 60 billion Turkish liras ($7.17 billion) from domestic markets in the next three months.
The Treasury has projected to hold 14 bond auctions and direct sale of lease certificates — no planned external borrowing — in the three-month period.
The Treasury also revealed an annual program for the next year on Friday which plans to repay 547.2 billion ($65.36 billion) Turkish liras and borrow 618.6 billion ($73.9 billion).
According to the plan, the Treasury will repay 449 billion Turkish liras ($53.6 billion) domestic and 98.2 billion ($11.7 billion) Turkish liras external debt in the year, with 121.9 billion ($14.56 billion) and 40.3 billion Turkish liras ($4.8 billion) interest payments, respectively.
It also expected to borrow 541 billion Turkish liras ($64.6 billion) from domestic and 77.6 billion Turkish liras ($9.27 billion) from external markets next year.
The program showed that in 2020 the Treasury paid 363.9 billion Turkish liras ($64 billion) debt — 79.4% of this amount was domestic payments –, and borrowed 467.8 billion Turkish liras ($82.36 billion), of which around 91% was from domestic markets.
The average US dollar/Turkish lira exchange rate was 5.68 in 2019 while it was around 8.35 currently.
Copyright 2021 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.