Turkey: Short-term external debt stock hits $128.4B

By Aysu Bicer

ANKARA (AA) - Turkey's short-term external debt stock totaled $128.4 billion as of the end of July, official data showed on Thursday.

Maturing within one year or less, the country's external debt stock rose by 4.2% from the end of 2019, the Central Bank of the Republic of Turkey said.

The currency breakdown of the debt stock was made up of 41.6% US dollars, 29.2% euros, 13.2% Turkish liras, and 16% other currencies.

Banks' short-term external debt stock rose 1.2% to $56.7 billion while other sectors' short-term external debt stock was down 12.3% to $51.5 billion during the same period.

From the borrowers' side, the short-term debt of the public sector, which consists of state lenders, climbed 9.6% to $27.4 billion.

"The short-term debt of the private sector decreased by 10% to $80.9 billion compared to the end of 2019," it said.

Short-term foreign exchange (FX) loans that banks received from foreign countries reached $8.4 billion, up 10.2% during the same period.