Turkey’s private sector external debt down in August

ISTANBUL 

Turkey’s outstanding short-term foreign private sector debts fell in August, the country’s Central Bank (CBRT) said on Wednesday.

Excluding trade credits, the private sector’s short-term external loans amounted to $11.8 billion, down $3.6 billion over the end of 2018.

According to the bank, 72.5% of all short-term loans consisted of liabilities of financial institutions.

Some 51% of short-term credits were in the U.S. dollar currency, while the rest of them were in euro (29.1%), Turkish lira (19.5%), and other currencies (0.4%).

On the long-term side, the private sector’s overseas loans totaled $196.6 billion as of August, dropping $12.8 billion compared to the end of last year.

Non-financial institution liabilities constituted 53.2% of long-term external loans, the bank said.

The U.S. dollar dominated long-term loans by constituting 60.7% of them, while euro and Turkish followed it with 33.8% and 3.9% respectively.

“Private sector’s total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $54.3 billion for the next 12 months by the end of August,” it added.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.

AdvertisementThe new Emirates Premium Economy has arrived on the latest Emirates A380 Emirates Get the best value from your summer holiday with exclusive offers and discounts across Dubai and the UAE with Emirates Pass

What do you think?