December 31, 2019 / 2:58 PM / 20 days ago

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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