Turkey’s private sector short-term debt stock rose in September, but long-term debt fell, the country’s central bank said on Monday.
Short-term private sector foreign loans, excluding trade credits, stood at $ 8.9 billion in September, up $ 179 million from the end of 2019.
Meanwhile, financial institutions’ liabilities accounted for 84.8% of all short-term loans, according to the bank.
Much of the short-term credit, 43.3%, was in US dollars while the rest was in euros (37.4%), Turkish lira (16.1%) and other currencies (3, 2%).
In the long term, private sector external loans amounted to $ 161 billion at the end of September, down $ 18.2 billion from the end of 2019.
Liabilities of non-financial institutions accounted for 56.2% of long-term external loans.
Most long-term loans, 62.5%, were in US dollars, followed by the euro and Turkish lira at 33.7% and 2.1%, respectively.
The bank added that the remaining maturity of the total outstanding private sector loans received from abroad at the end of September indicated principal repayments of $ 42.3 billion over the next 12 months.