Turkish private sector short-term external loans down

Central Bank says private sector's short-term foreign loans stand at $12.4B as of June, falling $3B since end-2018

By Tuba Sahin

ANKARA (AA) - 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.

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 U.S. 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.

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