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Turkey's short-term external debt stock at $125.3B in July

Turkey's short-term external debt stock at $125.3B in July
External debt stock up 9.7% in July compared to end of 2020, according to official data

By Gokhan Ergocun

ISTANBUL (AA) – Turkey’s short-term external debt stock stood at $125.3 billion at the end July, according to data released on Friday.

The debt that must be paid in a year or less climbed 9.7% in July compared to the end of 2020, according to the Turkish Central Bank.

A total of 40.7% of the debt stock is in US dollars, 25.8% in euros, 13.3% Turkish liras, and 20.2% in other currencies.

The short-term external debt stock of banks increased 2.6% to $58.9 billion, while the figure for other sectors was up 10.8% to $39.4 billion.

The rest of the amount – $27 billion – belonged to the Central Bank.

“From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 9.1% to $25.4 billion,” the bank said.

“The short-term debt of private sector increased by 4.6% to $72.9 billion compared to the end of 2020.”

Short-term foreign exchange (FX) loans banks received from abroad rose 1% to $13.8 billion, the data showed.

Foreign exchange deposits of non-residents – except in the banking sector – in resident banks hit $15.9 billion in July, indicating a 4.5% rise compared to the end of 2020.

FX deposits of non-resident banks stood at $14.5 billion, increasing by 9.3%, while non-residents’ Turkish lira deposits fell 3.6% to $14.8 billion, the bank said.​​​​​​​

source: News Feed
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