Turkey: Short-term foreign debt stock at $118B in Oct

By Tuba Sahin

ANKARA (AA) - Turkey's short-term external debt stock totaled $118 billion as of October, said the country's Central Bank on Tuesday.

Debt maturing within the next 12 months rose 3.6% in October compared to the end of last year, the bank said in a statement.

"Specifically, in this period, banks’ short-term external debt stock decreased by 1.0% to $56.6 billion and other sectors’ short-term external debt stock increased by 8.2% to $55.0 billion," it noted.

Half of the country's short-term foreign debt stock was in U.S. dollars, followed by 30.6% in euros, 13.4% in Turkish liras, and 6% in other currencies.

The public sector's short-term debt -- mainly of public banks -- hit $21.7 billion, up 3.7%, while the figure for the private sector was up 5.2% to $89.9 billion during the same period.

The short-term foreign exchange (FX) loans banks received from abroad slipped 22.1% from end-2018 to $8.6 billion in October.