Turkiye’s short-term external debt stock reaches $124.1B in November

By Gokhan Ergocun

ISTANBUL (AA) – Turkiye's short-term external debt stock totaled $124.1 billion as of end-November 2021, the country's Central Bank said on Monday.

The foreign debt due to be paid over the next 12 months posted a rise of 8.6% compared to the end of 2020, the bank said in a statement.

In this period, banks' short-term external debt stock fell 6.7% to $53.5 billion in the same period, while other sectors’ short-term external debt stock rose 25.4% to $44.5 billion.

The trade credits due to imports under other sectors came in at $39.4 billion, up 32.4% compared to the end of 2020.

Banks' short-term FX loans received from abroad dropped 7.5% to $12.6 billion.

As of the end of November, some 45.7% of the debt stock was in US dollars, 25.4% in euros, 9.6% in Turkish liras, and the remaining 19.3% in other currencies.

"Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, recorded $167.5 billion," the bank added.