Central Bank announces: How much is Turkey's external debt?

The Central Bank of the Republic of Turkey (TCMB) has announced the short-term external debt statistics for January 2024. Accordingly, the short-term external debt stock stood at 174.9 billion dollars as of the end of January, a 0.2 percent decrease compared to the end of 2023.

As reported by AA, during this period, the short-term external debt stock originating from banks rose by 2.2 percent to 69.9 billion dollars, while the short-term external debt stock of other sectors decreased by 2.7 percent to 58.8 billion dollars.

Short-term loans used by banks from abroad increased by 5 percent compared to the end of 2023, reaching 13.2 billion dollars. Foreign currency deposit accounts of non-residents excluding banks decreased by 2.3 percent to 19.5 billion dollars, and deposits of non-resident banks decreased by 1.4 percent to 20.4 billion dollars. Deposits of non-residents in Turkish Lira also rose by 10.8 percent compared to the end of last year, reaching 16.8 billion dollars.

Import debts under other sectors decreased by 3.4 percent compared to the end of 2023, standing at 51.7 billion dollars.

PUBLIC SECTOR DEBT INCREASED

The short-term debt of the public sector, which consists entirely of public banks, increased by 3.4 percent compared to the end of 2023 to 35.7 billion dollars, while the short-term external debt of the private sector decreased by 1.4 percent to 93.1 billion dollars.

During this period, short-term debts to monetary institutions under the heading of private creditors rose by 0.7 percent compared to the end of the year to 96.2 billion dollars, while debts to non-monetary institutions decreased by 2.3 percent to 75.9 billion dollars.

Short-term bond issues, which were 1.7 billion dollars at the end of 2023, reached 2.4 billion dollars as of the end of January 2024, and short-term debts to official creditors were 373 million dollars.

Looking at the currency composition of the short-term external debt stock, 50.5 percent consisted of dollars, 22.5 percent of euros, 10.8 percent of Turkish Lira, and 16.2 percent of other currencies.

In the same period, the short-term external debt stock calculated according to the remaining maturity, using data on external debt with 1 year or less remaining regardless of the original maturity, stood at 225.4 billion dollars. 19.6 billion dollars of this stock consisted of debts of banks and the private sector resident in Turkey to their foreign branches and affiliates.

When evaluated on a debtor basis, it was observed that the public sector had a 21 percent share, the Central Bank had a 20.5 percent share, and the private sector had a 58.5 percent share in the total stock.

News Source: 12punto