Turkey Said to Lean on Local Banks to Support Its Debt Auctions
- Primary dealers were asked to bid for more bonds than required
- The request comes as the country’s budget deficit widens
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Turkey is leaning on local banks to buy more government bonds in debt auctions.
In the latest sign of their increasingly interventionist approach to policy making, Turkish authorities asked some of the nation’s primary dealers to support the government’s borrowing drive last week, according to three people with direct knowledge of the matter.