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  • Eklenme Tarihi :
  • 03 Kasım 2014, Pazartesi 12:07

Treasury Developments In 2014 And Announces 2015 Predictions

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Treasury, Treasury development within the 2014 Financing Program and announced their predictions for 2015 .

İstanbul news: In 2015, a total of 79 billion TL 128.8 billion TL in the realization of the principal and debt service including interest £ 49.8 billion , debt of 107.3 billion TL of debt service , and debt service of 21.5 billion TL as was envisaged . Photo 2015-Medium term Programme for the period 2017 was announced on 8 October 2014 the Central Government Budget 2015, Turkey on October 16, 2014 submitted to the Grand National Assembly chairman . Medium Term Program and the central government budget forecasts were announced prepared on the basis of the 2015 Treasury Financing Program in the following manner .
2013, the average maturity of domestic cash borrowing is 74.3 months totaled 2014 January-October period was 68.8 months. < br/> in 2013, 7.6 percent fixed income TL denominated average cost of domestic borrowing stood at 9.9 percent in the January-October period of 2014. in order to diversify Photo broadening the investor base and debt instruments , issued in 2012 for the first time and in the domestic market since 2013, initiated the issuance of Sukuk issuance was continued in 2014 to regularly . In this context, in February and was exported Sukuk total of 3.2 billion TL in the domestic market in October. Photo order , including exports performed pre-financing in November 2013. As of October 2014 , international through conventional Eurobonds and beat exporting from the capital markets have provided resources of about 6.9 billion dollars , about 450 million dollars of this amount was in the pre-financing qualifications for external borrowing program for 2015 . Photo of 2014 January-October period from the World Bank , improving the business environment and enhancing transparency the acceleration of the labor force participation and access to finance reforms related to infrastructure expansion was achieved program loan of 367.4 million euros in support of efforts to deepen . Photo of 2014 January-October period the European Investment Bank and the French Development Agency , reforestation and erosion control activities in order to finance the investments in flood mitigation and financing new was provided program loan of 275 million euros . Photo percent of the total domestic debt rollover ratio stipulated as 86 percent for the whole of 2014 is expected to be 81.6 level.
< strong> 2015 yEAR FINANCIAL INFORMATION in 2015 Photo , £ 79 billion of principal and interest totaling 49.8 billion TL 128.8 billion TL in the realization of the debt service , debt service of TL 107.3 billion of domestic debt , of TL 21.5 billion was envisaged as the external debt service .
91.9 billion worth of domestic debt service payments to be made part of the market , while 15.4 billion worth of non-competitive bid conducted by public institutions was provided in the form of payment of sales. of 29.1 billion TL of the financing needs of the
2015, cash-based primary balance , privatization proceeds , 2/B sales , Savings Deposits with resources to be transferred from the Insurance Fund speed and guaranteed debt returns and cash/bank use of the results is expected to be met by borrowing foreign sources will be obtained . Photo of 2014 related to the amount of approximately $ 450 million as of October 2015 were provided pre-financing. Provided in 2014 and pre-financing except as may be provided , conventional Eurobonds in 2015 , the yen and the World Bank through Sukuk issuances and Europe total $ 5.1 billion provision included in the program loan will be provided by the Investment Bank aimed to achieve approximately TL 11.8 billion of external financing . Photo this prediction line , domestic borrowing made ​​88 billion TL in 2015 and was estimated to be 82 percent of the total domestic debt rollover ratio . Photo 2015 domestic borrowing strategy Photo 2003 from the year as a result of the debt policy carried out in the framework of the strategic criteria of public debt currency exchange , interest rate and liquidity risk sensitivity was reduced significantly. In this context, Beginning of 2003 to 58 percent \"foreign exchange denominated/indexed to the share of the central government debt stock of debt\", by the end of September 2014, fell to about 32 per cent level. The monitored as an indicator of Photo interest rate risk \"of the debt will be renewed in interest a year per terms of the share of debt \", in 2003, 94 percent while was nearly 55 per cent level by the end of September 2014. when used to measure the Photo Liquidity risk \"due to total domestic debt stock , the share of domestic debt will expire in one year , \"the 2003 in 42 percent of the level , about 16 percent fell to the end of September 2014.
which will continue to be implemented in 2015, the strategic criteria do the main elements of the TL's debt ; TL denominated borrowing is mainly done with fixed-income instruments , will reduce the share of bonds will be renewed interest 12 months , the average maturity of the market conditions allow , as far as maturing to reduce the share of debt in less than 12 months , reducing the liquidity risk associated with cash and debt management order was on the way to keep a strong reserve . Photo 2015 debt transactions exported plan will be carried out as follows:Photo in 2015 , 2, 5 and 10 year term TL denominated fixed coupon bonds \"benchmark \"will continue to be exported. Photo 5 years TL-term benchmark bonds denominated fixed coupon will be issued every month except December. Within the framework of the redemption profile of 2015 , 5 year term TL denominated fixed coupon bond with together 2 years and/or denominated 10-year term TL will be held the issuance of fixed-coupon benchmark . Zero-coupon bonds and bonds from
per breed, 7 years indexed to the term tender floating rate notes bonds, 5 and 10-year inflation-indexed bonds that may be issued depending on the amortization schedule and market conditions. Photo of TL denominated Sukuk was planned to be issued in the February and August . Additional demands of the market participants will be evaluated separately. Photo removal Financial vacation and similar situations of temporary mismatches can be observed between the output with cash inflows due to the purpose of short-term Treasury bills and the \"Regulation on financing to be provided by Money Market Cash Transactions Brokerage \"t Located financing instruments that can be used . where appropriate, the Photo Market conditions and a persistent demand show of institutional investors , more TL denominated bond issuance opportunities in the long term also evaluated can be exported to new domestic and foreign debt instruments. ensuring distributed uniformly between periods of Photo debt service and secondary in line with market conditions with the aim of increasing efficiency in market exchange rates and repurchase auctions can be done. at least one business day before the auction details will be publicized on the day
tender .

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