Minister Şimşek on 'speculation': 'Pre-election rhetoric...'

The Ministry of Treasury and Finance borrowed 2 billion Euros at a 6.125 percent interest rate in a 6-year Euro-denominated bond issuance, following which Treasury and Finance Minister Mehmet Şimşek made a statement on the matter.

Şimşek said, "We successfully completed our highest-value Euro issuance in our country's history yesterday. Speculative rhetoric and positions created with short-term expectations during the local election process will not be able to prevent our program from reaching its goals."

"SPECULATIVE RHETORIC..."

Making a statement on his X account, Şimşek said the following:

"We successfully completed our highest-value Euro issuance in our country's history yesterday. The spread of our first 2 billion Euro bond, which we issued after a three-year hiatus, reached its lowest level since 2017. Our transaction, which received more than five times the demand, became the first Euro issuance to take place this year outside of issuances by countries with investment-grade ratings. This successful issuance is a clear indicator of international investors' confidence in our country and their belief in our program. Speculative rhetoric and positions created with short-term expectations during the local election process will not be able to prevent our program from reaching its goals."

News Source: 12punto