Türkiye's short-term debt down to $174.9B

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's short-term external debt was $174.9 billion as of January, decreasing by 0.2% from the end of 2023, the country's Central Bank (CBRT) said on Monday.

The short-term debt of banks increased by 2.2% to $69.9 billion, while other sectors' external debt decreased by 2.7% to $58.8 billion over the same period.

Short-term foreign exchange loans of the banks received from abroad rose by 5% to $13.2 billion.

Meanwhile, foreign exchange deposits of non-residents within residents banks dropped by 2.3% to $19.5 billion.

Trade credits - due to imports - under other sectors recorded $51.7 billion, posting a decrease of 3.4%.

The currency breakdown of short-term external debt stock composed of 50.5% US dollars, 22.5% euro, 10.8% Turkish lira and 16.2% other currencies.

Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, was $225.4 billion, of which $19.6 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad.

From the borrowers side, public sector accounted for 21%, the CBRT accounted for 20.5% and private sector accounted 58.5% in total stock.