Short-term external debt stock rose in November

The Central Bank of the Republic of Türkiye (CBRT) has released short-term external debt statistics for the November 2023 period. Accordingly, the short-term external debt stock reached 171.9 billion dollars as of the end of November, an increase of 15.3 percent compared to the end of 2022.

During this period, the short-term external debt stock originating from banks rose by 8 percent to 67.3 billion dollars, while the short-term external debt stock of other sectors increased by 7.9 percent to 58.3 billion dollars.

Short-term loans used by banks from abroad increased by 24.6 percent compared to the end of 2022, reaching 13.4 billion dollars. While foreign currency deposit accounts of non-bank residents abroad decreased by 8 percent to 19.9 billion dollars, deposits of foreign-resident banks rose by 13.5 percent to 19.1 billion dollars. Deposits of non-residents in Turkish Lira also increased by 13.9 percent compared to the end of last year, reaching 15 billion dollars.

Import debts under other sectors increased by 6 percent compared to the end of 2022, reaching 51.7 billion dollars.

PRIVATE SECTOR'S SHORT-TERM DEBT IS 92.2 BILLION DOLLARS

The short-term debt of the public sector, which consists entirely of public banks, increased by 15.8 percent compared to the end of 2022 to 33.4 billion dollars, while the private sector's short-term external debt increased by 5.4 percent to 92.2 billion dollars.

During this period, short-term debts to monetary institutions under the heading of private creditors rose by 27.3 percent compared to the end of the year to 94.6 billion dollars, while debts to non-monetary institutions increased by 1.9 percent to 75.4 billion dollars.

Short-term bond issues, which were 676 million dollars at the end of 2022, reached 1 billion 477 million dollars as of the end of November 2023, and short-term debts to official creditors in the same period were 395 million dollars.

Looking at the currency composition of the short-term external debt stock, 50 percent consisted of dollars, 23.5 percent of euros, 10 percent of Turkish Lira, and 16.5 percent of other foreign currencies.

In the same period, the short-term external debt stock based on remaining maturity, calculated using external debt data with 1 year or less remaining regardless of original maturity, stood at 226.3 billion dollars. 17.5 billion dollars of this stock consisted of debts of banks and the private sector resident in Türkiye to their foreign branches and affiliates.

When evaluated on a debtor basis, it was observed that the public sector had a 20.2 percent share, the Central Bank had a 20.4 percent share, and the private sector had a 59.4 percent share in the total stock.