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Finance Minister Mehmet Şimşek said Turkey’s 10-year benchmark dollar-denominated bond yield fell below 7% for the first time since November 2021, adding: “Through our steadfastly implemented program, we have strengthened macro-financial stability and reduced risk premiums. As a result, our external borrowing costs were high.” “It has fallen significantly,” he said.
In a post on his social media account, Simsek assessed Turkey’s 10-year dollar-denominated benchmark bond yield.
Drawing attention to the decline in foreign borrowing costs, Şimşek said:
“The yield on our 10-year US dollar benchmark bond fell below 7% for the first time since November 2021. We have reduced our risk premium through a firm program to strengthen macro-financial stability. As a result, our external debt costs have fallen significantly. This improvement in our costs has also affected external financing for the private sector,” he said. “We will make our benefits permanent through structural measures in the coming period, thereby further improving our risk premium.”
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