Turkey: Short-term external debt stock hits $124B

By Tuba Sahin

ANKARA (AA) - Turkey's short-term external debt stock totaled $124 billion as of the end of June, official data showed on Thursday.

Maturing within one year or less, the country's external debt stock rose by 0.3% from the end of 2019, the Central Bank of the Republic of Turkey (CBRT) said.

The currency breakdown of the debt stock was composed of 41.1% US dollars, 28.2% euros, 14.3% Turkish liras and 16.4% other currencies.

Lenders' short-term external debt stock slipped by 2.5% to $54.8 billion and other sectors' short-term external debt stock was down by 16% to $49.6 billion during the same period.

The rest of the amount -- some $19.6 billion -- belonged to the CBRT.

From the borrowers' side, the short-term debt of the public sector, which consists of state lenders, climbed 4.2% to $26.1 billion.

"The short-term debt of the private sector decreased by 13.1% to $78.3 billion compared to the end of 2019," it said.

Short-term foreign exchange (FX) loans that banks received from foreign countries reached $8 billion, up 2.6% during the same period.