Turkish Treasury plans to repay $10.3B debt by June-Aug

By Gokhan Ergocun

ANKARA

Turkish Treasury will pay back 46.2 billion Turkish liras (some $10.28 billion) of debt, 10.4 percent of which will go to external creditors, by June-August this year, the Undersecretariat of Treasury announced on Thursday.

According to the official plan, a 41.42 billion Turkish lira (around $9.2 billion) domestic debt redemption is projected -- less than 30 percent of this amount will be interest payment while the rest will be principal payment.

The Treasury will also repay 4.8 billion Turkish liras (nearly $1.1 billion) external debt in the next three months, including 1.7 billion liras (some $378 million) principal payment.

Undersecretariat's domestic borrowing strategy revealed that the Treasury has projected 45.5 billion liras (around $10.1 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 19 auctions to issue government bonds, the undersecretariat added.