Turkey: Short-term external debt stock at $122.5B

ANKARA

Turkey's short-term external debt stock totaled $122.5 billion as of end of February 2020, the nation's Central Bank revealed on Friday.

Turkey's external debt stock -- maturing within one year or less -- rose by 0.9% in February, compared to the end of 2019, according to the Central Bank of Turkey (CBRT).

Official figures revealed that the currency breakdown of the debt stock composed of 48.8% U.S. dollar, 29.6% euro, 14.1% Turkish lira and 7.5% other currencies.

Banks’ short-term external debt stock increased by 1.6% to $57.1 billion and other sectors’ short-term external debt stock increased by 3.4% to $57.0 billion over the same period.

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

"From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 5.6% to $26.4 billion.

"And the short-term debt of private sector decreased by 2.8% to $87.7 billion compared to the end of 2019," the bank said.

The CBRT noted that short-term foreign exchange (FX) loans of the banks received from abroad went down 12.7% to $6.8 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.

"And FX deposits of non-resident banks recorded $13.7 billion increasing by 0.4%," it said.

The bank also said that non-residents’ Turkish lira deposits surged by 13.4% and recorded $15.5 billion in the same period.