Turkey Reports Drop in Short-Term External Debt in Q4
The banking sector’s short-term external debt fell 0.8% to $72.5 billion, while the short-term debt of other sectors rose 4.5% to $68.3 billion during the same period.
Short-term foreign exchange (FX) loans obtained by Turkish banks from abroad dropped 10.8% to $8.6 billion, and FX deposits held by non-residents in domestic banks decreased 2.6% to $19 billion.
“FX deposits of non-residents (excluding banking sector) recorded $21.2 billion increasing by 1.1%. In addition, non-residents’ Turkish lira deposits increased by 3% and recorded $23.7 billion,” the central bank said.
Trade credit liabilities tied to foreign trade transactions grew 4.7% to $62.5 billion, while obligations from cash loans increased 1.7% to $5.8 billion.
The currency breakdown of the debt stock was 35% US dollars, 27.9% euros, 22.7% Turkish liras, and 14.4% in other currencies.
On a remaining maturity basis, which accounts for debt due within one year, Türkiye’s short-term external debt totaled $225.4 billion at year-end.
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