Türkiye’s treasury targets more than $18B in domestic borrowing over 3 months – Türkiye Today

Türkiye’s Ministry of Treasury and Finance has announced a plan to secure ₺630.4 billion ($18.3 billion) in domestic borrowing from November 2024 to January 2025.

This includes expected monthly borrowing of ₺225.2 billion in November, ₺125 billion in December, and ₺280.2 billion in January.

3-month domestic borrowing strategy

The ministry’s three-month borrowing strategy outlines key borrowing plans to meet significant debt repayments.

• November: Planned borrowing of ₺225.2 billion against ₺119.8 billion in domestic debt service requirements.
• December: Target of ₺125 billion to cover ₺67.6 billion in repayments.
• January: Planned borrowing of ₺280.2 billion to offset ₺217.2 billion in debt service.

Borrowing methods and distribution

The borrowing will occur through several channels:

• November: ₺155.6 billion from market auctions, ₺47.6 billion from direct sales and ₺22 billion from public sales.
• December: ₺107 billion from market auctions, ₺5 billion from direct sales and ₺13 billion from public sales.
• January: ₺264 billion from market auctions, ₺7.7 billion from direct sales, and ₺8.6 billion from public sales.

The ministry has also scheduled 20 bond auctions, the direct issuance of four lease certificates, and the reissue of two Treasury bills over the next three months.

Debt repayment projections

Total debt repayments are projected to be ₺272.6 billion in November, ₺79.1 billion in December, and ₺262.2 billion in January.

Of this, ₺209.1 billion will be allocated to external debt servicing.