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CBRT to Hold General Meeting on Feb 3, External Assets rise to $307bn in November

TURKEY

LOCAL NEWS

  • CBRT to hold a general meeting on Feb 3 to discuss advance payment from its 2021 profits to shareholders and distribution of reserve funds will be discussed. The Treasury owns almost all shared of the CBRT.
  • External assets rise to $307bn in November, reflecting a 20.3% increase from 2020 according to CBRT data. The net IIP (ext assets – liabilities) stands at -$220bn. Sub-items under assets rose 35% to $125.6bn, investments up 12.7% at $122.1bn.
    • Currency deposits at banks rose 14.4% to $47.9bn. Portfolio investment dropped 12.4% to $99bn. Non-resident govt debt holdings fell 39.2%, and Eurobonds dell-0.5% to $45.9bn. Short term external debt stock rose 8.6% to $124.1bn.
    • banks external debt fell 6.7% to $53.5bn, while other sectors increased 25.4% to $44.5bn
  • Istanbul Mayor Imamoglu (CHP) blames government for misleading citizens about the spending of the municipality, saying that the city has not been mired in debt as claimed by state officials.
    • Transport ministry says Imamoglu has yet to sign off on the new plans for a subway line in the city because the city had exceeded the legal borrowing limit
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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