Türkiye's short-term foreign debt at $165.6B in May

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's short-term external debt amounted to $165.6 billion as of May, up from 11.1% from the end of 2022, the Turkish Central Bank revealed on Monday.

The banks' debt increased by 4.3% to $64.9 billion, while other sectors' debt rose by 4.1% to $56.3 billion over the same period.

Short-term foreign exchange loans of the banks from foreign countries were up by 5.6% to $11.3 billion.

Trade credits due to imports under other sectors recorded $50.4 billion, increasing 3.5% compared to the end of 2022.

Some 47.5% of the total debt was in the US dollar, while the euro (24.7%), Turkish lira (10.6%) and other currencies (17.2%) followed it.

"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 USD 207.3 billion," the bank added.