ISTANBUL

The Turkish Treasury will repay debts worth 88.3 billion Turkish liras (some $12.64 billion) in the May-July period, the Treasury and Finance Ministry announced on Thursday.

The Treasury will repay 36 billion Turkish liras ($5.15 billion) in external debts, including 6.3 billion Turkish liras ($901.7 million) in interest payments.

For the next three months, 52.4 billion Turkish liras ($7.5 billion) of domestic debt redemption is also projected — with around 16.5 billion Turkish liras ($2.36 billion) of this amount in interest payments, while the rest will be principal payment.

According to the ministry’s borrowing strategy, the Treasury will borrow 89 billion Turkish liras ($12.7 billion) from domestic markets in the next three months.

The Treasury has projected to hold 24 bond auctions and direct sale of lease certificates — no planned external borrowing — in May-July period.

Copyright 2020 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.