Turkish private sector foreign debt at $178.5B as of September

By Emir Yildirim

ISTANBUL (AA) – The Turkish private sector’s foreign debt reached $178.5 billion as of September, up $14.3 billion from the end of 2023, Türkiye’s Central Bank said on Friday.

Long-term loans rose $1.7 billion to $165.2 billion while short-term loans (excluding trade credits) rose $4.1 billion to $13.3 billion.

Some 57.6% of the total long-term debt was in the US dollar, while the euro accounted for 35%, the Turkish lira made up 2.5%, and other currencies had a 4.9% share.

In total short-term debt, the US dollar made up 43.8%, the euro 15.9, the Turkish lira 35.3%, and other currencies 5%.

The private sector’s total outstanding loans received from abroad based on a remaining maturity basis "point out to principal repayments in the amount of $54.3 billion for the next 12 months by the end of September,” the bank said.