January 8, 2018 – FRN –
The Turkish government plans to create securities on its government debt obligations in various currencies in 2018, including rubles, said Turkish Deputy Prime Minister Mehmet Shimshek.
“We are entering into a serious diversification of our government debt, sending a significant amount of money to new countries. For the first time we held a road show in Russia, analyzed the ruble-denominated bond market, and the first positive reactions from it. In 2018, we will try to sell our Bonds for Rubles. At the same time, we decided to enter the panda-bond market (nominated in Chinese renminbi) and we will develop our financial relations through the Chinese bank ICBC, which started its operations in Turkey.”
Earlier, Turkish President Tayyip Erdogan said that Ankara is ready to switch to settlements in the national currency with countries that have significant trade with Turkey, including Russia, China, India and Iran.