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Turkey's external public debt history (Inglês)

This historic report on Turkey's public debt begins with a history of its external debt payments, beginning in the 1870s. The next section describes the direct external bonded indebtedness of the Turkish government. The major portion of the Turkish Government's direct external bonded debt in the past few years has consisted of the 7-1/2 percent Conversion Loans of 1933. The next section discusses the direct obligations of the Turkish government to foreign governments. The greater part of this indebtedness is to the United Kingdom for credits extended in 1938 and 1940 amounting to £58,000. There are also indirect obligations with formal or implied guarantees by the central government. According to available information, the total outstanding principal of indebtedness in this category amounted to approximately 192 million Turkish pounds (U.S. $69 million) as of September 30, 1946. Included in this amount are obligations of the City of Istanbul and of government enterprises, such as railways, ports, and other utilities. It is estimated that by 1949, the outstanding external debt of Turkey will be equivalent to U.S. $309,413,000.




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