Money

Turkey’s short-term foreign debt stock reaches $123.6B

Country’s external debt stock maturing within one year or less unchanged in January from end-2019

Turkey’s Central Bank on Tuesday reported that the country’s short-term external debt stock totaled $123.6 billion as of end-January.

The external debt stock maturing within one year or less remained constant compared to end of last year, according to the bank.

The currency breakdown of the debt stock composed of 48.8% U.S. dollars, 30% euro, 13.8% Turkish lira and 7.4% other currencies.

Short-term external debt stock of lenders rose 1% to $56.8 billion while other sectors saw a 1% drop to $58.4 billion, the bank said.

The rest of the amount some $8.4 billion belonged to the bank.

“From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 7.7% to $23.4 billion and the short-term debt of private sector decreased by 1.8% to $91.7 billion compared to the end of 2019,” it noted.

Short-term foreign exchange (FX) loans of the banks received from abroad went down 11.3% to $6.9 billion.

“FX deposits of non-residents (except banking sector) within residents’ banks decreased by 0.1% in comparison to the end of 2019 recording $21.1 billion.”

FX deposits of non-resident lenders recorded $13.6 billion in January, down 0.7% from end-2019, it added.

The bank also said that non-residents’ Turkish lira deposits rose 11.5%, hitting $15.2 billion in the same period.

Source
Anadolu Agency

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