Turkish Treasury to repay $16.5 billion of debt by June

ANKARA

Turkey’s Treasury plans to pay back 37.6 billion lira ($14.3 billion) of domestic debt, including 3 billion lira ($1.14 billion) of foreign debt, between April and June  2015, the Treasury has said.

According to figures released on the Treasury's official website on Tuesday, the domestic debt redemption projected for April through to June 2015 is 34.7 billion lira ($13.2 billion), while domestic borrowing amounts to 29.2 billion lira ($11.17 billion).

The treasury said it will not borrow money from foreign sources during this period.

The domestic debt redemption for the month of April will be 14.7 billion lira ($5.6 billion), while domestic borrowing is expected to be 11.2 billion lira ($4.3 billion).

In May 2015, domestic debt is projected to be 12.8 billion lira ($4.9 billion), while domestic borrowing is projected to reach 9.5 billion lira ($3.6 billion).

In June 2015, domestic debt is anticipated at 10.1 billion lira ($3.86 billion) and domestic borrowing at 8.5 billion lira ($3.25 billion).

The Treasury also expects some income from privatization and 2B land sales - land sold by the treasury to rural dwellers - during the period.

The Treasury will also hold 16 bond auctions between April and June 2015 to generate income and reduce debt.