Türkiye's short-term external debt at $182.5B as of May

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's short-term external debt was at $182.5 billion as of the end of May, increasing by 3.6% from the end of 2023, the Central Bank data showed on Thursday.

Banks’ short-term external debt stock increased by 11.6% to $76.4 billion and other sectors’ debt stock increased by 0.1% to $61.4 billion.

Short-term foreign exchange (FX) loans of the banks received from abroad increased by 32.5% to $16.7 billion.

FX deposits of non-residents - except banking sector - within residents banks decreased by 6.8% in comparison to the end of 2023 recording $18.6 billion, and FX deposits of non-resident banks recorded $20.5 billion decreasing by 0.9%.

Trade credits due to imports under other sectors recorded $54.5 billion posting an increase of 0.4% compared to the end of 2023.

As of end of May, the currency breakdown of short-term external debt stock composed of 49.5% US dollars, 21.8% euro, 13.5% Turkish lira and 15.2% 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, recorded $235.3 billion, of which $22.4 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad.

From the borrowers side, public sector accounted for 22.2%, Central Bank accounted for 19% and private sector accounted 58.8% in total stock.