Overview The Ministry of Treasury and Finance clarified that its debt policy is guided by medium- and long-term strategic criteria, focusing on the maturity structure, interest composition, and risk profile of the overall debt stock rather than individual issuances.
Maturity Structure Shift The average maturity of cash debt decreased from 65.1 months at the end of 2023 to 33.8 months by January 2026.
Risk Management and Composition The ministry emphasized that the debt composition will continue to be balanced in line with strategic criteria that consider currency, interest, refinancing, and liquidity risks.
In 2025, 5‑year fixed‑coupon bonds accounted for 14.2% of debt issuance, while 10‑year fixed‑coupon bonds represented 1.9%.
Implementation Principles Decisions are made based on market conditions and investor demand, aiming to preserve the sustainability of the debt stock and maintain a cost‑risk balance.
Factors such as budget financing, cost, maturity, debt service profile, market demand, and the yield curve across different maturities were taken into account.
Commitment to Sustainability The ministry reiterated its commitment to a strategic, risk‑aligned approach, ensuring the sustainability and risk management of its debt policy.
Ministry of Treasury and Finance Statement on Debt Policy: Executed Within Strategic Criteria
The Ministry of Treasury and Finance stated that its debt policy is executed within medium- and long-term strategic criteria, focusing on the maturity structure, interest composition, and risk profile of the overall debt stock rather than individual issuances. The average maturity of cash debt fell from 65.1 months at the end of 2023 to 33.8 months by January 2026.
Sources
- Ekonomi Gazetesi · baglanti