Economy

Turkey's short-term external debt stock falls in Nov.

Maturing within one year or less, Turkey's external debt stock amounted to $116.5B as of November 2018

17.01.2019
Turkey's short-term external debt stock falls in Nov.

By Muhammed Ali Gurtas

ANKARA

Turkey's short-term external debt stock dropped by 1.8 percent from the end of 2017 in November, the Turkish Central Bank (CBRT) reported on Thursday.

Maturing within one year or less, Turkey's external debt stock amounted to $116.5 billion -- 47.8 percent in U.S. dollar, 29.5 percent in euro, 20.4 percent in Turkish lira and 2.3 percent in other currencies.

"The short-term debt of the public sector, mainly composed of public banks, increased by 4.9 percent to $23.2 billion.

The private sector's short-term foreign debt dropped by 8.9 percent to $87.4 billion during the same period.

Official figures revealed that the banks’ short-term external debt stock dropped by 13.5 percent to $58.1 billion over the same period, as other sectors’ surged 3.2 percent to $52.4 billion.

The rest of the short-term external debt stock -- some $5.9 billion -- belonged to the CBRT.

The bank also noted that short-term foreign exchange (FX) loans of the banks received from abroad decreased by 33.9 percent to $11.6 billion in the same period.

"FX deposits of non-residents [except banking sector] within residents banks decreased by 6.1 percent in comparison to the end of 2017 recording $18.4 billion.

"... FX deposits of non-resident banks recorded $13.4 billion decreasing by 21 percent," it added.

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