- Short-term external debt stockrecorded USD 101 billion at the end of February, indicating an increase of 3.1 percent compared to the end of 2016. Specifically, in this period, banks’ short-term external debt stock increased by 4.7 percent to USD 60 billion and other sectors’ short-term external debt stock increased by 0.9 percent to USD 40.9 billion.
- Short-term FX loans of the banks received from abroad increased by 2.5 percent and FX deposits of non-residents within residents banks decreased by 0.8 percent in comparison to the end of 2016, recording to USD 15.1 billion and USD 13.1 billion, respectively. Banks deposits recorded USD 18.7 billion, increased by 8.6 compared to the end of 2016, while non-residents’ Turkish lira deposits increased by 7.8 percent and recorded 13.1 billion.
- Trade credits due to imports under other sectors recorded USD 32.7 billion reflecting a decrease of 0.1 percent compared to the end of 2016.
- From the borrowers’ side, the short-term debt of public sector, which mainly composed of public banks, increased by 3.5 percent to USD 16.8 billion and the short-term debt of private sector increased by 3.1 percent to USD 84.1 billion compared to the end of 2016.
- From the creditors side, short-term debt to monetary institutions under private creditors item increased by 7.0 percent to USD 50.6 billion and short-term debt to non-monetary institutions decreased by 0.4 percent to USD 50.1 billion. Short-term bond issues decreased by 49.1 percent to 87 million as of the end of February decreasing from USD 171 million observed at the end of 2016. In the same period, short-term debt to official creditors recorded USD 259 million.
- As of end of February, the currency breakdown of short-term external debt stock was composed of 51.4 percent US dollars, 30.1 percent Euro, 15.6 percent Turkish lira and 2.9 percent other currencies.
- Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, recorded USD 161.2 billion, of which USD 20.5 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad. According to the borrowers, Public Sector accounted for 16.5 percent, Central Bankaccounted for 0.5 percent and Private Sector accounted 83 percent in total stock.
Source: Central Bank of the Turkish Republic – February 2017
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