Turkish private sector foreign debt falls in Nov.

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's outstanding foreign debts in the private sector decreased in the period from December 2017 to November 2018, the Central Bank of Turkey said Wednesday.

Long-term debts of the sector reached $213.3 billion as of November, decreasing $8.8 billion from the end of 2017, the bank said in a written statement.

It also said the sector's short-term loans dropped by $3.1 billion to $15.5 billion during the same period.

"As for the sectoral breakdown by the end of November, of the total long-term loans in the amount of $213.3 billion, 47.9 percent consist of liabilities of the financial institutions, whereas 52.1 percent consists of the liabilities of the non-financial institutions," the statement said.

It added: "In the same period, of the total short-term loans in the amount of $15.5 billion, 73.1 percent consists of liabilities of the financial institutions, whereas 26.9 percent consists of liabilities of the non-financial institutions."

Some 59.6 percent of Turkey's private sector long-term debt was in U.S. dollars, with 34.7 percent in euros, 4.1 percent in Turkish liras, and 1.6 percent in other currencies.

By definition, short-term loans have an original maturity of one year or less while long-term loans have an original maturity of more than one year.