NEWS Finance        17/04/2020

Turkey’s short-term external debt stock is USD 122.5 billion as of February 2020

The Turkish Central Bank (TCMB) has reported Turkey's short-term external debt stock (maturing within one year or less) as USD 122.5 billion as of the end of February 2020, which is a decrease of 0.9% 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 – February 2020


Short-term external debt stock recorded USD 122.5 billion at the end of February, indicating a decrease of 0.9 percent compared to the end of 2019. Specifically, in this period, banks’ short-term external debt stock increased by 1.6 percent to USD 57.1 billion and other sectors’ short-term external debt stock decreased by 3.4 percent to USD 57.0 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 decreased by 0.1 percent in comparison to the end of 2019 recording USD 21.1 billion, and FX deposits of non-resident banks recorded USD 13.7 billion increasing by 0.4 percent. In addition, non-residents’ Turkish lira deposits increased by 13.4 percent and recorded USD 15.5 billion.


Trade credits due to imports under other sectors recorded USD 49.9 billion reflecting a decrease of 1.4 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 5.6 percent to USD 26.4 billion and the short-term debt of private sector decreased by 2.8 percent to USD 87.7 billion compared to the end of 2019.


From the creditors side, short-term debt to monetary institutions under private creditors item increased by 1.2 percent to USD 46.3 billion and short-term debt to non-monetary institutions decreased by 2.3 percent to USD 75.6 billion. Short-term bond issues increased by 37.3 percent to 92 million as of the end of February increasing from USD 67 million observed at the end of 2019. In the same period, short-term debt to official creditors recorded USD 484 million.


As of end of February, the currency breakdown of short-term external debt stock composed of 48.8 percent US dollars, 29.6 percent euro, 14.1 percent Turkish lira and 7.5 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 168.5 billion, of which USD 18.9 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad. From the borrowers side, public sector accounted for 21.1 percent, Central Bank accounted for 5.0 percent and private sector accounted 73.9 percent in total stock.”

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