Turkish Treasury to repay over $7B debt in April-June

By Muhammed Ali Gurtas

ANKARA (AA) - Turkey's Treasury will repay debts worth 40.8 billion Turkish liras (around $7.24 billion) in April-June, the Treasury and Finance Ministry announced on Friday.

Including 5.5 billion lira ($975 million) in interest payments, the Treasury will repay 7.6 billion Turkish liras ($1.35 billion) in external debts.

Over the next three months, 33.2 billion liras ($5.88 billion) of domestic debt redemption is also projected -- around 35 percent of this amount will be interest payments, while the rest will be principal payment.

According to the ministry's borrowing strategy, the Treasury will borrow 32.6 billion Turkish liras ($5.77 billion) from domestic markets in the next three months.

The Treasury has projected to hold nine bond auctions and a direct sale of lease certificates -- no planned external borrowing -- in April-June.