Page 46 - TURKRptOct19

Turkey that he could obliterate its economy if Ankara went too far with its planned incursion into northeastern Syria, only had a muted effect on the Turkish curve, with investors' scepticism towards Trump growing.
Yapi Kredi Bank has a syndicated loan worth around $1bn due in October.
OYAK Denizcilik Liman, a subsidiary of Turkish military pension fund OYAK, has obtained a loan from the Japan Bank for International Cooperation (JBIC) and Mitsubishi UFJ Financial Group (MUFG) to build a port to be used mainly by OYAK’s automotive operations.
OYAK did not say how much financing it secured from the lenders for the $110mn port project.
JBIC has provided $44mn for the port, but OYAK did not give any information about MUFG’s contribution to the financing.
The port, which will be built in the western province of Kocaeli, is expected to be completed in 2020, said Savas Erdem, OYAK general manager.
The port will handle 780,000 vehicles annually, according to a statement from OYAK.
OYAK is a shareholder in carmaker Renault Mais, a joint venture with the French auto giant.
Last month, Ataer Holding, a subsidiary of OYAK was announced as the preferred bidder to buy British Steel, the ailing former stalwart of British industry which was put into liquidation in May.
6.0 Public Sector 6.1 Budget
6.2 Debt
TURKEY -DEBT
2013
2014
2015
2016
2017
2018
Aug/19
Budget: gross debt (LC bn)
586
613
678
760
876
1,067
1,248
Budget: gross debt (% GDP)
32.4
30.0
29.0
29.1
28.2
28.8
-
46 TURKEY Country Report October 2019 www.intellinews.com