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Turkiye’s Short-Term External Debt Stock Declines by 0.2% in January

Short-term external debt stock decreased by 0.2% in January compared to the end of 2023, reaching $174.9 billion.

The Central Bank of the Republic of Turkiye (CBRT) announced short-term external debt statistics for the January 2024 period. Accordingly, short-term external debt stock amounted to $174.9 billion as of the end of January, with a decrease of 0.2% compared to the end of 2023.

During this period, the short-term external debt stock originating from banks increased by 2.2% to $69.9 billion, while the short-term external debt stock of other sectors decreased by 2.7% to $58.8 billion.

Short-term loans used by banks from abroad increased by 5% compared to the end of 2023, reaching $13.2 billion. Foreign exchange deposit accounts of non-residents, excluding banks, decreased by 2.3% to $19.5 billion, and deposits of non-resident banks decreased by 1.4% to $20.4 billion. TL deposits of non-residents increased by 10.8% compared to the end of last year, reaching $16.8 billion.

Import debts under other sectors decreased by 3.4% compared to the end of 2023, reaching $51.7 billion.

Short-term external debt of the private sector is $93.1 billion

The short-term debt of the public sector, which consists entirely of public banks, increased by 3.4% compared to the end of 2023, reaching $35.7 billion, and the short-term external debt of the private sector decreased by 1.4%, reaching $93.1 billion.

During this period, short-term debts to monetary institutions under the heading of private creditors increased by 0.7% compared to the end of the year, reaching $96.2 billion, and debts to non-monetary institutions decreased by 2.3%, reaching $75.9 billion.

Short-term bond issues, which were $1.7 billion at the end of 2023, reached $2.4 billion as of the end of January 2024, and short-term debts to official creditors reached $373 million.

When we look at the foreign currency composition of the short-term external debt stock, 50.5% was in dollars, 22.5% in euros, 10.8% in TL and 16.2% in other currencies.

In the same period, the short-term external debt stock was at the level of $225.4 billion, according to the remaining maturity calculated using the external debt data with 1 year or less left to maturity, regardless of its original maturity. $19.6 billion of the stock in question consisted of the debts of banks located in Turkiye and the private sector to their foreign branches and subsidiaries.

When evaluated on a debtor basis, it was seen that the public sector had a 21% share in the total stock, the Central Bank had a 20.5% share, and the private sector had a 58.5% share.

Source: Trthaber / Prepared by Irem Yildiz

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