Outstanding short-term foreign loans fall to $8.5B, while long-term loans stand at $163.1B, says Central Bank
The Turkish private sector’s outstanding foreign loans in September totaled $171.6 billion, down $1.4 billion compared to end-2020, the Turkish Central Bank announced Tuesday.
The sector’s short-term loans excluding trade credits received from abroad were at $8.5 billion in September, down $1.2 billion from the end of last year.
Some 82.2% of short-term loans consisted of the liabilities of financial institutions, while 17.8% consists of liabilities of non-financial institutions.
Broken down by currency, 36.7% of Turkey’s short-term credit was in dollars, 35.7% in euros,23.7% in Turkish liras, and 3.9% in other currencies.
The private sector’s long-term debt in the same period was down $199 million to $163.1 billion.
The bank said 40.3% of the total long-term foreign loans were owed by financial institutions while 59.7% consisted of the liabilities of non-financial institutions.
As for the total long-term loans totaling $163.1 billion, 62.1% consisted of dollars, 34% of euros, 2.1% of Turkish liras, and 1.8% of other currencies, it said.
The private sector’s total outstanding loans received from abroad, based on a remaining maturity basis, point to principal repayments of $39.9 billion for the next 12 months by the end of September.