2021 ProgramTurkish Treasury to repay $10.7 bln debt in next 3 months - Latest News
The Turkish Treasury will repay debts worth 89.9 billion Turkish liras (some $10.74 billion) in the next three months, the Treasury and Finance Ministry announced on Oct. 30.www.hurriyetdailynews.com
Pay off a little debt. Borrow huge amount money.
The interest is accumulated over the years and not of the recent transactions. The debt ratio of Turkey is among the lowest in the developed world (meaning a country that can make its necessities to a high degree of 70+). The debt total is also decreasing other than the ratio. Government knows borrowing is not a recipe for long term success and the lenders will not lend more as the interest paid is not as good as it was before and there is unmeasurable risk. Turkey will be better off going forward considering the level of fine tuning in the government policies.
www.worldgovernmentbonds.com
www.worldgovernmentbonds.com
Government has spent up the cash in the savings deposit, and started printing money without shoring up necessary capital to back it up. resulting in further deteriorizing the turkish lira. So the government started prioritizing short term loans, but the maturity of these loans are very short less than 12 months.You are correct debt is being held at relatively the same level (thus ratio drop given GDP growth):
IDS Online Tables_Analytical
datatopics.worldbank.org
Barring the spike at 2016/17 which saw increase from 400 billion level of the period 2013-2016 to about 450 billion which is the level 2017 - date roughly.
However the main reason for this curtailing is driven more by basic reality of the credit rating...than any govt foresight on the issue (given the earlier ramping when the credit rating was better):
Turkey Credit Rating
Turkey Credit Ratings. Current and historical ratings by the major rating agencies. Timetables and charts.
All the ratings of the major agencies currently have Turkey in speculative region, below investment grade that it had some years back (mid 2016 is when the big drop happened or started to happen).
This directly influences the (level and cost) of loan buffet on offer to Turkey now compared to before.
With this worse credit rating, the yield curve is also inverted:
Turkey Government Bonds - Yields Curve
Turkey Government Bonds and Yields Curve. Updated charts and tables, agencies ratings, spread comparisons, current prices.
This is a very concerning situation with this sub-optimal credit rating especially, it means Turkey is willing to give more return to shorter term loan than longer term one....
The sheer level (15% return) is also very high (even much poorer developing countries have this as 5%-10% lot of the time) suggesting a big foreign liquidity crunch Turkey govt has....that it is really trying to shore up this way.
These two factors really need deep reform, not kicking the can more.
@Sinan @Deliorman
That is exactly what Ali Babacan said. The center pillar has been destroyed. This meaning any government that comes afterwards will need to implement harsh budget and restrictions on national level..
We were supposed to have defaulted long time ago if you believe in the opposition.
tradingeconomics.com
This must be a huge joke. Is not it?
Strange, my house is in middle of istanbul, in a decent neighbourhood, the highest speed they provie is 60 Mpbs and there is no fiber -even with fiber they don't provide high speeds at affordable prices-, the stability of connection is bad and i can't establish proper remote connection, the ping delay is high despite of remote computer connection is P2P and it is within 10 km.This must be a huge joke. Is not it?
What do you mean they didn't invest?
Well, does Türk Telekom know about your writings?
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You can find what I shared and much more in Türk Telekom 2019 annual report.
Once you want a very high internet speed, you will first pay for it. And you will have fiber cable laid up to your street. Then you have to run the fiber cable up to the last connection socket of your modem. There should be no copper cable on the line where the modem is connected. If the man brought it to your neighborhood, he doesn't have to bring it to your door. If someone else has a fiber line in the same site or building, then you will be comfortable.Strange, my house is in middle of istanbul, in a decent neighbourhood, the highest speed they provie is 60 Mpbs and there is no fiber -even with fiber they don't provide high speeds at affordable prices-, the stability of connection is bad and i can't establish proper remote connection, the ping delay is high despite of remote computer connection is P2P and it is within 10 km.
The fiber connection they claim is available until the central box of neighborhood and distributed via copper cables. And my house is far to that box, which is not placed frequently as supposed to be,and speeds naturally get slow.
I don't even mention how bad the connection quality ,speed, and ping values when i connect at computer located abroad. I didn't experience this when i was connected over greater distances ,ie. from Japan to Spain/Germany. The ping between Turkey -EU is worse than Japan -EU. I was using cloud storage in such cases and even GBs of files was transferred in less than a second between computers over cloud services, in case of Turkey it took up to half hour.
The backbone of connection wasn't strengthened as supposed to be.
In rare conditions at some rich places and sites they offer fiber connection up to entrance of a block or building, or a site. So you can get a real fiber connection. Again, i have tried at another residence and the connection was bad at internation connections.
So, don't talk if you don't know, don't live or don't experience it.
For speedtests they do tricks, like suggesting nearby server for test, or temporarily pumping up speed-prioritize the testing line, at offered rates to provide desirable results in speeds and pings.
Speedtest Global Index – Internet Speed around the world – Speedtest Global Index
Find out which countries have the fastest internet speeds in the world. View global monthly comparisons of fixed and mobile internet speeds.www.speedtest.net
Our internet is really amazing,
Mobile ranking : 54th
Broadband ranking : 101st
Turk telekom really performs well in Turkey , lol. Consistency score, %18 , speed score 13 Mpbs.
Turkey's Mobile and Broadband Internet Speeds - Speedtest Global Index
Turkey ranked 72nd in the world for mobile speeds and 110th for fixed broadband speeds during March 2024.www.speedtest.net
Turkey's Mobile and Broadband Internet Speeds - Speedtest Global Index
Turkey ranked 72nd in the world for mobile speeds and 110th for fixed broadband speeds during March 2024.www.speedtest.net
Turkey: up to 100 Mpbs fiber 330 lira - 34 Euro, fiber to home availability is low, mostly fiber to neighborhood and then via ADSL2- VDSL which again gives up to 100 Mpbs.
Turkey must invest more than 10 billion dollars for a capacity of precisely the kind of job you want. Since we are not that rich, there is not much we can do. Türk Telekom's value is not that much anyway.
Sounds good. But everything depends on ressources and capacity. Once you go fiber low speed should be unacceptable
I just wanted to point out, even in direct comparison the internet is cheaper in countries with higher minimum wage, and higher currency value. The material costs might make up about 20-30 percent, the remaining is personnel cost.
