Economy

Turkey: Short-term external debt stock at $120.6B

Compared to end of 2018, Turkey's external debt stock -- maturing within one year or less -- surged 3.4% in April

Muhammed Ali Gürtaş   | 20.06.2019
Turkey: Short-term external debt stock at $120.6B

ANKARA 

Turkey’s central bank on Thursday reported that the country's short-term external debt stock totaled $120.6 billion as of the end of April this year. 

Turkey's external debt stock -- maturing within one year or less -- rose by 3.4% in April, compared to the end of 2018, according to the Central Bank of Turkey (CBRT).

Official figures revealed that the currency breakdown of the debt stock composed of 51.8% U.S. dollars, 30.2% euro, 13.1% Turkish lira and 4.9% other currencies.

Banks’ short-term external debt stock increased by 0.6% to $57.5 billion and other sectors’ short-term external debt stock increased by 7.7% to $57.7 billion over the same period.

The rest of the amount -- some $5.4 billion -- belonged to the CBRT.

"From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 6.2% to $23.9 billion.

"And the short-term debt of private sector increased by 3.5% to $91.3 billion compared to the end of 2018," the bank said.

The CBRT noted that short-term foreign exchange (FX) loans of the banks received from abroad went down 12.6% to $9.6 billion.

"FX deposits of non-residents (except banking sector) within residents banks increased by 2.3% in comparison to the end of 2018 recording $19.5 billion.

"And FX deposits of non-resident banks recorded $14.8 billion increasing by 13.9%," it said.

The bank also said that non-residents’ Turkish lira deposits decreased by 3.5% and recorded $13.5 billion in the same period.

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