Turkey Sells US Treasuries Amid Economic Crisis
Turkey significantly reduced its holdings of US Treasury bonds in March, selling nearly all of its $14 billion in assets. This move reflects the severe economic pressures on the country, exacerbated by rising energy prices due to the US-Israeli conflict on Iran, which has also contributed to higher global inflation and US Treasury yields. The sale aims to raise US dollars to support the depreciating Turkish lira, which has lost value as inflation concerns mount, with forecasts suggesting it could reach 30 percent this year.
John Q. Hosedrinker