Short-term external debt at $172 billion

ANKARA

Türkiye’s short-term external debt stock increased by 15.3 percent from the end of 2020 to stand at $171.9 billion as of the end of November 2023, the Central Bank said on Jan. 18

Banks’ short-term external debt stock rose by 8 percent to $67.3 billion, while other sectors’ short-term external debt stock was up by 7.9 percent to $58.3 billion.

Short-term FX loans of banks received from abroad stood at $13.4 billion, rising by 24.6 percent compared with the end of 2022.

FX deposits of non-residents - except banking sector - within residents banks decreased by 8 percent to $19.9 billion, while FX deposits of non-resident banks recorded $19.1 billion, increasing by 13.5 percent.

“In addition, non-residents’ Turkish Lira deposits increased by 13.9 percent and recorded $15 billion,” the bank said.

From the borrowers’ side, the short-term debt of the public sector, which consists of public banks, increased by 15.8 percent to $33.4 billion, while the short-term debt of the private sector increased by 5.4 percent to $92.2 billion.

“As of the end of November, the currency breakdown of short-term external debt stock composed of 50 percent the U.S. dollars, 23.5 percent euro, 10 percent lira and 16.5 percent other currencies,” the Central Bank said.

The short-term external debt stock, calculated based on the external debt maturing within one year or less regarding the original maturity, recorded $ 226.3 billion, according to the bank.