Friday, Dec 03

Turkey's short-term external debt stock decreases

Short-term foreign exchange loans the banks received from foreign countries fell by 5.8% to $7.3 billion, Turkish Central Bank data showed.
20.07.2020 - 11:27

Turkey's short-term external debt stock amounted to $123.5 billion as of the end of May, official data showed on Monday.

The country's external debt stock -- maturing within one year or less -- dropped by 0.1% in May versus the end of 2019, according to the Turkish Central Bank.

SHORT-TERM DEBT OF PRIVATE SECTOR DECREASED BY 13 PERCENT

Official data revealed that the currency breakdown of the debt stock was composed of 41.8% US dollars, 28% euros, 14.1% Turkish liras and 16.1% other currencies.

Banks' short-term external debt stock posted a decrease of 2.1% to $55 billion and other sectors' short-term external debt dropped by 16.8% to $49.1 billion during the same period.

The rest of the amount -- some $19.4 billion -- belonged to the central bank, up from $8.4 billion at the end of the last year, according to the bank's data.

"From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 2.6% to $25.7 billion.'' "And the short-term debt of private sector decreased by 13% to $78.4 billion compared to the end of 2019," the bank said.

The central bank also noted that non-residents' Turkish lira deposits increased by 13.2% and was recorded as $15.4 billion in the same period.