Private sector’s external debt down in October

ISTANBUL

The Turkish private sector’s outstanding foreign loans in October hit $169.8 billion, down by $3.1 billion compared to end-2020, the Turkish Central Bank announced on Dec. 16. 

The short-term loans – excluding trade credits – of the sector received from abroad were $8.4 billion as of October, down by $1.3 billion from the end of last year, according to a monthly statement.

The Long-term loans totaled $161.4 billion as of October, down by $1.8 billion, it said.

Regarding long-term loans, banks’ loan liabilities decreased by $3.6 billion; whereas bond liabilities amounted to $19.9 billion, down by $1.6 billion in comparison to the end of 2020.

In the same period, non-bank financial institutions’ loan liabilities decreased by $971 million; whereas bond liabilities amounted to $2.3 billion, down by $4 million.

Non-financial institutions’ loan liabilities recorded an increase of $2.8 billion in comparison to the end of 2020; while bond liabilities amounted to $10.1 billion, increasing by $2.4 billion as of October.

Regarding short-term loans, banks’ loan liabilities hit $5.5 billion, down by $1.1 billion; whereas non-financial institutions’ loan liabilities reached $1.2 billion, down by $103 million in comparison to the end of 2020.

Regarding the currency composition of the total long-term loans, 62.3 percent consists of U.S. dollars, 33.9 percent consists of euros, 2.0 percent consists of Turkish Lira and 1.8 percent consists of other currencies.

Some 37.8 percent of the total short-term loans consists of U.S. dollars, 36 percent consists of euros, 21.9 percent consists of liras and 4.3 percent consist of other currencies.