NEWS Finance        20/08/2020

Turkey’s short-term external debt stock is USD 124 billion as of June 2020

The Turkish Central Bank (TCMB) has reported Turkey's short-term external debt stock (maturing within one year or less) as USD 124 billion as of the end of June 2020, which is an increase of 0.3% 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 – June 2020


Short-term external debt stock recorded USD 124.0 billion at the end of June, indicating an increase of 0.3 percent compared to the end of 2019. Specifically, in this period, banks’ short-term external debt stock decreased by 2.5 percent to USD 54.8 billion and other sectors’ short-term external debt stock decreased by 16.0 percent to USD 49.6 billion.


Short-term FX loans of the banks received from abroad increased by 2.6 percent to USD 8.0 billion. FX deposits of non-residents (except banking sector) within residents banks decreased by 1.8 percent in comparison to the end of 2019 recording USD 20.7 billion, and FX deposits of non-resident banks recorded USD 10.4 billion decreasing by 24.1 percent. In addition, non-residents’ Turkish lira deposits increased by 15.3 percent and recorded USD 15.7 billion.


Trade credits due to imports under other sectors recorded USD 43.6 billion reflecting a decrease of 13.8 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 4.2 percent to USD 26.1 billion and the short-term debt of private sector decreased by 13.1 percent to USD 78.3 billion compared to the end of 2019.


From the creditors side, short-term debt to monetary institutions under private creditors item increased by 20.7 percent to USD 55.2 billion and short-term debt to non-monetary institutions decreased by 11.7 percent to USD 68.4 billion. Short-term bond issues increased by 150.7 percent to 168 million as of the end of June increasing from USD 67 million observed at the end of 2019. In the same period, short-term debt to official creditors recorded USD 310 million.


As of end of June, the currency breakdown of short-term external debt stock composed of 41.1 percent US dollars, 28.2 percent euro, 14.3 percent Turkish lira and 16.4 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 171.4 billion, of which USD 15.7 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad. From the borrowers side, public sector accounted for 23.3 percent, Central Bank accounted for 11.5 percent and private sector accounted 65.2 percent in total stock.”

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