The Turkish private sector’s outstanding foreign loans shrank in June from the end of December 2018, the country’s Central Bank reported on Tuesday.
DOWN 3 BILLION DOLLARS FROM END-2018
Excluding trade credits, the private sector’s short-term loans received from abroad reached $12.4 billion as of June, down $3 billion from end-2018. The liabilities of financial institutions constituted 72.9% of all short-term loans.
Broken down by currency, 47.6% of Turkey’s private sector long-term debt was in US dollars, with 33% in euros, 19.2% in Turkish liras, and 0.2% in other currencies.
Central Bank data showed the long-term debts of the sector during the same period also fell $7.8 billion to $201.7 billion. The bank said 47.6% of the total long-term foreign loans were owed by financial institutions.