NEWS Finance        20/05/2020

Turkey’s short-term external debt stock is USD 118.7 billion as of March 2020

The Turkish Central Bank (TCMB) has reported Turkey's short-term external debt stock (maturing within one year or less) as USD 118.7 billion as of the end of March 2020, which is a decrease of 4% on the figure as of 2019 yearend.

 

The Bank gave the following analysis of Turkey’s short-term external debt stock figure:

 

Short-Term External Debt Statistics Developments – March 2020

 

Short-term external debt stock recorded USD 118.7 billion at the end of March, indicating a decrease of 4.0 percent compared to the end of 2019. Specifically, in this period, banks’ short-term external debt stock decreased by 4.2 percent to USD 53.8 billion and other sectors’ short-term external debt stock decreased by 4.2 percent to USD 56.6 billion.

 

Short-term FX loans of the banks received from abroad decreased by 12.7 percent to USD 6.8 billion. FX deposits of non-residents (except banking sector) within residents banks showed no significant change in comparison to the end of 2019, recording USD 21.1 billion, and FX deposits of non-resident banks recorded USD 11.3 billion decreasing by 17.5 percent. In addition, non-residents’ Turkish lira deposits increased by 7.4 percent and recorded USD 14.6 billion.

 

Trade credits due to imports under other sectors recorded USD 49.6 billion reflecting a decrease of 2.1 percent compared to the end of 2019.

 

From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 3.4 percent to USD 25.9 billion and the short-term debt of private sector decreased by 6.3 percent to USD 84.5 billion compared to the end of 2019.

 

From the creditors side, short-term debt to monetary institutions under private creditors item decreased by 5.9 percent to USD 43.1 billion and short-term debt to non-monetary institutions decreased by 2.9 percent to USD 75.2 billion. Short-term bond issues increased by 77.6 percent to 119 million as of the end of March increasing from USD 67 million observed at the end of 2019. In the same period, short-term debt to official creditors recorded USD 375 million.

 

As of end of March, the currency breakdown of short-term external debt stock composed of 48.7 percent US dollars, 29.8 percent euro, 13.9 percent Turkish lira and 7.6 percent other currencies.

 

Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, recorded USD 168.9 billion, of which USD 17.8 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad. From the borrowers side, public sector accounted for 23.0 percent, Central Bank accounted for 5.0 percent and private sector accounted 72.0 percent in total stock.”



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