"Countries all around the world have been issuing massive volumes on government debt for years – some with high rates of inflation (Turkey) and others with low rates of inflation (Japan) – without any problem of “funding” at all. The reason is that the deficits, after all, provide the funds that the Government borrows back!" :from Mitchell, William (2009) "D for debt bomb; D for drivel"
The Turkish Treasury calculates Turkish Lira (TL) equivalents of debt stock amounts from original, foreign currencies on the basis of the selling rate at the relevant end of period. See: Debt Management Reports, Treasury, p. 13
