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Market-Friendly Simsek May Help Shape Turkey’s Economy Policies

TURKEY
  • Bloomberg report that Mehmet Simsek may help shape Turkey’s economy policies, according to President Erdogan, without hinting at an official role for Turkey’s former economy czar. “We’re preparing to further strengthen our economy policies in the period ahead,” Erdogan said, speaking in a live interview with 24 TV late Wednesday. Simsek was one of the last market-friendly figures in Erdogan’s government until he left office following the 2018 elections.
  • $2.5b of Turkey’s 7Y dollar-denominated green bonds were priced to yield 9.3%, down from initial price talk in the 9.6% region. Bloomberg reported the details citing a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it. Turkey had already secured $5 billion from international debt markets this year through two deals, half of its target of $10 billion.
  • There are no major economic releases or speaker events scheduled today.

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