Turkey may lift stoppage over Eurobond issues for private sector

Babacan said the Turkish Government was planning to lift the 10% stoppage charged from private sector for Eurobond issues.

Turkey may lift stoppage over Eurobond issues for private sector

Turkish Deputy Premier and State Minister for Economy Ali Babacan said the Turkish Government was planning to lift the 10% stoppage charged from private sector for Eurobond issues.

Babacan who spoke during the 10th anniversary celebration of the CNBC-e TV channel in Istanbul, said they were working an arrangement to lift the stoppage and would announce and start implementing it in a few days.

Babacan said as the Government's need for external burrowing declined, an opening for the private sector emerged in this area. He said they wanted Bonds of issuers other than the Treasury to be on demand too.

"Our banks as well as real sector companies may become more active in the foreign markets and currency markers. We believe this move will be an important step in ensuring long term capital in flow to Turkey," said Babacan.

Babacan said the government was also planning to open the domestic bond market to the private sector and reduce the 5% stoppage over private issue bonds to 1%.

"These are important steps for overcoming the short term funding problems, that can open new areas," said Babacan.

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Last Mod: 16 Aralık 2010, 15:25
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