Private sector external debt declines

ANKARA

The private sector’s total outstanding loans received from abroad stood at $167.8 billion as of November 2021, decreasing by $5.2 billion compared to the end-2020, the Central Bank has said.

Long-term loans were $159.6 billion, dropping by $3.7 billion, whereas short-term loans (excluding trade credits) amounted to $8.2 billion, down by $1.5 billion from the end of 2020.

From the borrower’s side, regarding long-term loans, banks’ loan liabilities decreased by $3.8 billion, while bond liabilities stood at $19.9 billion, decreasing by $1.6 billion over the same period

On the other hand, non-bank financial institutions’ loan liabilities declined by $1.2 billion, whereas bond liabilities were recorded at $2.3 billion, marking a $6 million drop.

Non-financial institutions’ loan liabilities recorded an increase of $1.7 billion compared with the end of 2020, while their bond liabilities amounted to $10.1 billion, increasing by $2.5 billion as of November, the monetary authority said.

Regarding the currency composition, of the total long-term loans 63.2 percent consists of the U.S. dollar, 33.4 percent consists of euro, 1.5 percent consists of Turkish Lira and 1.9 percent consists of other currencies and of the total short-term loans, 40.3 percent consists of the U.S. dollar, 36.6 percent euro, 19.1 percent lira and 4 percent consist of other currencies.

The private sector’s total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $40.4 billion for the next 12 months by the end of November, the bank said.