With bonds worth 2029, Turkey borrows $ 1 billion

The government of "Justice and Development" tries to fill the cash deficit

According to banking sources, the Turkish Treasury would have borrowed $ 1 billion through the issuance of dollar bonds, maturing in April 2029, with a final yield of 7.15%.

This came in the light of the economic situation in Turkey since the beginning of last year, which was half the value of the Turkish lira, where the government "justice and development" had to take measures to fill the deficit of the Treasury.

Turkey has been mandated by the banks: Goldman Sachs and Jie. JPMorgan, Standard Chartered, at the reopening of bonds. Turkey initially borrowed $ 1 billion in January, according to Reuters.

According to Zaman, the Turkish Treasury intends to borrow $ 8 billion in international markets this year and has finally borrowed $ 6.4 billion, or about 80% of that value, in the first quarter of this year.

The rating agency Moody's International has raised from high to very high the risk of vulnerability of the Turkish economy to external factors.

Moody's attributed the high risk of influence from external factors to Turkey's economy to the high total funding that Turkey has to provide from abroad.

And warned against the possibility of a decline in the value of the Turkish lira, due to possible tensions with Germany on recent warning background of its citizens to visit Turkey, as well as tensions between Turkey and the United States, because of the 400 S missile defense system – which Turkey insists on buying from Russia.

Last year, Standard & Poor's lowered Turkey's credit rating from BB- to B + and kept it at a "stop", while Moody's lowered it Ba2's rating at Ba3 of Turkey, lowering its credit outlook to "negative" "He said.