Turkish Treasury plans to repay $9.4B debt between March and May

Turkish Treasury will pay back 35.8 billion Turkish liras ($9.4 billion) of debt, 62 percent of which will go to external creditors, in the period of March-May this year, the Undersecretariat of Treasury announced Wednesday.

According to the official plan, a TL 13.7 billion ($3.6 billion) domestic debt redemption is projected. About 86 percent of this amount will be interest payment while the rest will be principal payment.

The Treasury will also repay TL 22.2 billion ($5.8 billion) external debt in the next three months, including TL 16.4 billion ($4.3 billion) principal payment.

Undersecretariat's domestic borrowing strategy revealed that the Treasury has projected TL 15.1 billion ($3.9 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 seven auctions to issue government bonds, the undersecretariat noted.