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Turkey's short-term external debt stock at $122.9B

Turkey's short-term external debt stock at $122.9B
Compared to end of 2018, Turkey's external debt stock -- maturing within one year or less -- up by 5% in June

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's short-term external debt stock amounted to $122.86 billion as of the end of last June, the Central Bank of Republic of Turkey (CBRT) announced on Wednesday.

The country's external debt stock -- maturing within one year or less -- soared by 5% in June, versus the end of 2018, according to the CBRT's written statement.

Official data showed that the currency breakdown of the debt stock was composed of 50.5% U.S. dollars, 30.7% euro, 13.1% Turkish lira and 5.7% other currencies.

Banks’ short-term external debt stock decreased by 0.1% to $57.1 billion and other sectors’ short-term external debt stock increased by 10% to $59.2 billion over the same period.

The rest of the amount -- some $6.5 billion -- belonged to the CBRT.

"From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 4.1% to $23.4 billion.

"And the short-term debt of private sector increased by 5.0% to $93 billion compared to the end of 2018," the bank said.

The CBRT noted that short-term foreign exchange (FX) loans of the banks received from abroad dropped 8.3% to $10.2 billion.

"FX deposits of non-residents (except banking sector) within residents banks increased by 5.4% in comparison to the end of 2018 recording $20.0 billion.

"And FX deposits of non-resident banks recorded $13.2 billion increasing by 1.3%," it noted.

The bank also said that non-residents’ Turkish lira deposits decreased by 2.5% and recorded $13.7 billion in the same period.

source: News Feed
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