Turkey to Issue Bonds Indexed to State Companies’ Revenues to Counter Inflation
The Turkish government unveiled a new set of measures to counter its soaring inflation. The Turkish Treasury said it would issue domestic bonds indexed to the revenues of state enterprises. This measure was taken in an effort to increase savings in lira assets. The...
Turkey’s Dollar Bonds Slip as Inflation and Rate Cut Worries Persist
Dollar bonds of Turkey fell by 1-2 points yesterday and the lira fell over over 2%. The nation has seen a massive surge in inflation to 73.5%, its highest in over 23 years. Equally worrying were the comments of Turkish President Erdogan who said that Turkey will not...
Turkey Plans Restricting Local Investors Purchase of Lira Bonds by Supras
In an effort to curb the short selling of the Lira, Turkey is planning to limit supply of liquidity in the offshore market by restricting local investors from purchasing new Lira bonds issued by supranationals (IFC, World Bank, EBRD etc). The objective is to reduce...
