Turkish private sector short-term external loans down

ANKARA

The Turkish private sector's outstanding foreign loans shrank in June from the end of December 2018, the country's Central Bank reported on Tuesday.

Excluding trade credits, the private sector's short-term loans received from abroad reached $12.4 billion as of June, down $3 billion from end-2018.

The liabilities of financial institutions constituted 72.9% of all short-term loans.

Broken down by currency, 47.6% of Turkey's private sector long-term debt was in U.S. dollars, with 33% in euros, 19.2% in Turkish liras, and 0.2% in other currencies.

Central Bank data showed the long-term debts of the sector during the same period also fell $7.8 billion to $201.7 billion.

The bank said 47.6% of the total long-term foreign loans were owed by financial institutions.