Page 35 - TURKRptJun20

“However, it would have to be accompanied by a critical element of comprehensive structural reforms overseen by the IMF to prevent USD/TRY from rallying precipitously to 10 or an even higher level,” it concluded.
President Recep Tayyip Erdogan would have to make an embarrassing U-turn in order to go to the IMF. The populist has always told Turks that the country would never have to go to the Fund for a bailout during his watch.
5.3​ FDI
5.4​ External Debt
Major external financing obtained by Turkish borrowers
Total
Renewal
Maturity
Tranche
Cost
Tranche
Cost
(mn)
Rate
(days)
1
1
2
2
May-20
Isbank
$800
78%
367
$208
Libor+2.25%
€539
Euribor+2.00%
May-20
Garanti
$699
89%
367
EBRD
Libor+2.25%
IFC
Euribor+2.00%
May-20
Central bank
$10,000
Qatar
swap
May-20
Yapi Kredi
$100
EBRD
367
May-20
Yapi Kredi
$780
78%
367
$199
Libor+2.25%
€535
Euribor+2.00%
May-20
Eximbank
$678
124%
367
Libor+2.50%
Euribor+2.25%
May-20
QNB Finansbank
$255
367
$45
€193
May-20
QNB Finansbank
$100
EBRD
2-year
May-20
QNB Finansbank
€25
France
7-year
Proparco
May-20
Izmir Municipality
€25
Societe
Generale
May-20
Enerjisa Enerji
$125
EBRD
TLREF
TRY-denominated
May-20
Eximbank
$100
IsDB
May-20
Ulker
€75
EBRD
May-20
Denizbank
$175
EBRD
May-20
Netlog
€25
EBRD
Apr-20
Vakifbank
$950
86%
367
$312
Libor+2.25%
€590
Euribor+2.00%
Apr-20
Health Ministry
$100
World Bank
10.5-year
5-year grace
35​ TURKEY Country Report​ June 2020 ​ ​www.intellinews.com