17.Jun .2021 21:00

Turkey’s Private Sector Foreign Debt Down in April

Turkey’s Private Sector Foreign Debt Down in April
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Turkey's private sector outstanding short and long-term debt totaled $171.5 billion in April, down $2.2 billion versus the end of 2020, the Central Bank of the Republic of Turkey (TCMB) said on Thursday.
The private sector's short-term overseas loans – excluding trade credits – totaled $9.6 billion in April, down $161 million compared to the end of last year.

Some 83.7% of short-term loans consisted of financial institution liabilities, the TCMB said.

Broken down by currency, the majority of Turkey's short-term credit was in US dollars (37.6%), while euros made up 37.4%, Turkish liras 21.6% and other currencies 3.4%.

On the other side, the private sector's long-term debt fell by $2.1 billion to $161.9 billion over the same period.

The TCMB said 42.6% of long-term foreign loans were owed by financial institutions.

On their currency composition, long-term loans totaled $161.9 billion – with 62.5% consisting of U.S. dollars, 33.5% euros, 2.2% Turkish liras and 1.8% other currencies, it added.
Based on a remaining maturity basis, the private sector's total outstanding foreign loans indicate principal repayments of $42.8 billion over the next 12 months by the end of April.