Turkey must repay 25 percent of GDP over next year – JP Morgan

Around $179 billion in Turkish foreign debt matures between now and July 2019, Reuters quoted investment bank JP Morgan as saying.

The figure represents almost 25 percent of Turkey’s annual GDP, the bank said, and $146 billion of it is owed by the private sector.

“Financing needs over the next 12 months are large and access to markets has become problematic,” JP Morgan said.

“As international banks are likely to at least partially reduce their exposure to Turkey, roll-over of principal could be challenging for some entities.”

The situation represented a high roll-over risk, the bank added, saying that this would make the financing of Turkey’s current account deficit more difficult.

https://www.reuters.com/article/us-turkey-currency-debt-jpm/turkey-faces-179-billion-external-debt-repayments-until-july-2019-jpmorgan-says-idUSKCN1LE0WS
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