Turkish Treasury awarded for successful debt management

By Tuba Sahin

ANKARA (AA) - A prominent U.K.-based business magazine has awarded Turkey's Finance and Treasury Ministry for its successful performance in debt management albeit difficult periods.

According to a statement from the ministry on Thursday, GlobalCapital declared the ministry's debt management department as the Public Debt Management Office of the Year.

The ministry's bond issuance department was evaluated as the most successful unit managing borrowing processes through analyzing the investor reflex with the most accurate tools at right times, in a period when international markets were struggling with great uncertainties, facing with currency exchange attacks and the impact of diplomatic matters were felt, according to the statement.

"While maintaining investor confidence strong, we borrowed via the right instruments at the right time. We have always kept market confidence high," Turkish Treasury and Finance Minister Berat Albayrak said citing the report.

Pointing Turkey's well public indebtedness ratios globally, Albayrak said: "This keeps our hand strong. We will head for our goals while preserving our strength and maintaining our achievements."

GlobalCapital underlined that Turkey was forced to grapple with difficult economic conditions over the past year.

"Through it all, the debt management office has been a rock of professionalism," the magazine said.