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Turkey: Short-term external debt stock at $120.7B

Turkey: Short-term external debt stock at $120.7B
Compared to end of 2018, Turkey's external debt stock -- maturing within one year or less -- up by 5.4% in August

By Aysu Bicer

ANKARA (AA) - Turkey's short-term external debt stock totaled $120.7 billion as of the end of August, an official data revealed on Thursday.

The country's external debt stock -- maturing within one year or less -- increased by 5.4% in August, versus the end of 2018, according to the Central Bank of the Republic of Turkey (CBRT).

Official data showed that the currency breakdown of the debt stock was composed of 50.4% U.S. dollar, 30.8% euro, 13.1% Turkish lira and 5.7% other currencies.

Banks’ short-term external debt stock posted an increase of 0.1% to $57.2 billion and other sectors’ short-term external debt stock rose by 11% to $57.1 billion over the same period.

“From the borrowers’ side, the short-term debt of public sector, which consists of public banks, increased by 1.9% to $22.9 billion.

"And the short-term debt of private sector increased by 6.1% to $91.4 billion compared to the end of 2018," the bank said.

Short-term foreign exchange (FX) loans of the banks received from foreign countries dropped by 14.7% to $9.5 billion, the bank data showed.

"FX deposits of non-residents (except banking sector) within resident banks increased by 8.7% in comparison to the end of 2018, recording $20.6 billion.

"And FX deposits of non-resident banks recorded $13.7 billion, increasing by 5%," it noted.

The CBRT also noted that non-residents’ Turkish lira deposits decreased by 4.4% and recorded $13.4 billion in the same period.

source: News Feed
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