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    Traders walk on the floor of the Borsa Istanbul in Istanbul, Turkey, February 29, 2016

    Turkey to Issue Yuan-Denominated Bonds for 1st Time - Erdogan

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    Turkey plans to issue Yuan-denominated bonds for the first time with an aim to diversify its foreign borrowing instruments, Turkish President Recep Tayyip Erdogan said on Friday.

    "For the first time, we are issuing Chinese Yuan denominated bonds," Erdogan said as quoted by the Anadolu news agency as he delivered a speech to reveal a 100-day plan of Turkey's new presidential cabinet.

    The Turkish president stressed that the Chinese, Mexican and Russian markets would become a priority for Turkish exports, adding that his country was facing "an economic war," which it was going to win.

    Erdogan's comment comes after US President Donald Trump on July 26 threatened sanctions against Turkey over a detention of US pastor Andrew Brunson, who is suspected by the Turkish authorities of links to a terrorist organization.

    Erdogan said Turkey would not change its position on the detention of US pastor amid US remarks on possible sanctions.

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    economy, issue, bonds, stocks, yuan, China, Turkey
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