ECONOMY

Turkey slashes January domestic borrowing by $1.6 billion

turkey-slashes-january-domestic-borrowing-by-1-6-billion

Turkey’s Treasury on Tuesday slashed its domestic borrowing amount for January by almost 10 billion lira ($1.68 billion) to 15 billion lira, according to its three-month domestic borrowing strategy.

In its borrowing strategy a month earlier, the Treasury had set the January domestic borrowing amount at 24.4 billion lira. On Tuesday, it also said it planned a 2.83-billion lira payment for the transfer of state lender Vakifbank’s shares to the Treasury on February 11.

The Treasury also said it would resort to buy-back auctions as part of its active debt management strategy. [Reuters]