World News

Turkey slashes January domestic borrowing by $1.6 billion

ANKARA (Reuters) – 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 <VAKBN.IS> 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.

($1 = 5.9477 liras)

(Reporting by Nevzat Devranoglu; Writing by Tuvan Gumrukcu; Editing by Jonathan Spicer)

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