Türkiye’s short-term external debt at $170.9B in July

By Mucahithan Avicoglu

ISTANBUL (AA) -Türkiye's short-term external debt was up to $170.9 billion at the end of July, the Turkish Central Bank said on Thursday.

The figure rose 1.1% from the previous month's $169 billion, the data showed.

The banks’ short-term external debt increased 1.3% to $74.4 billion, and the short-term external debt of other sectors climbed 2.1% to $67.7 billion over the same period.

The short-term foreign exchange (FX) loans Turkish banks took from abroad dropped 3.5% to $9.8 billion, while foreign exchange deposits of non-residents in resident banks fell 2% to $19.5 billion.

"FX deposits of non-residents (excluding banking sector) recorded $20.9 billion, decreasing by 0.2%," the Central Bank said in a statement.

"In addition, non-residents’ Turkish lira deposits increased by 7.8% and recorded $24.2 billion," it added.

The trade credit liabilities linked to foreign trade transactions rose 1.7% to $62.4 billion in July, while liabilities arising from cash loans increased 6.6% to $5.3 billion, the data showed.

The currency breakdown of the debt stock was 36% in US dollars, 26% in euros, 23% in Turkish liras, and 15% in other currencies.

On a remaining maturity basis, including external debt within one year, Türkiye’s short-term external debt stock at the end of July totaled $223.3 billion.