Turkish Treasury to repay over $11.7B debt in March-May

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's Treasury will repay 62.6 billion Turkish liras (around $11.75 billion) of debt in the March-May period, the Ministry of Treasury and Finance announced on Thursday.

The Treasury will repay 25.4 billion Turkish liras ($4.8 billion) of external debts, of which 7.8 billion lira ($1.5 billion) will be interest payment.

In the next three months, 37.1 billion liras (around $7 billion) of domestic debt was planned to repay by the Treasury -- 43 percent of this amount will also be interest payment.

Meanwhile, the Treasury has announced to hold 9 auctions in the three-month period for borrowing 36.1 billion Turkish liras ($6.77 billion) from domestic markets.

The Treasury has no plan for external borrowing for the next three months, according to the official announcement.