Reuters news agency quoted Turkish economic officials as saying that Qatar is expected to buy two billion dollars worth of Turkish international bonds in January, in accordance with a previous agreement aimed at supporting Ankara's foreign exchange reserves.
According to the two officials, Doha has already invested nearly a billion dollars as part of the broader agreement, and Reuters reported last November that Turkey and Qatar are holding talks for Qatar to provide funding of up to ten billion dollars, including up to three billion dollars by the end of this year.
Reuters continued that with the two billion dollars expected in the first weeks of the new year 2023, Turkey will have achieved a preliminary plan ranging from two billion to three billion dollars out of a total of ten billion dollars worth of Qatari investments.
A new issue is currently being planned for the first week of next year 2023 with expectations that Qatar will buy almost two billion dollars and that the rest of the money will flow to Turkey during 2023.
According to Reuters, the flow of foreign funding has helped the Turkish government to maintain the stability of the lira over the past months as inflation began to decline after exceeding the threshold of 85%, and the Turkish Ministry of Treasury and Finance announced this month the issuance of international dollar-denominated bonds worth one billion dollars, 55% of which were bought by investors from the Middle East.
