The private sector’s total outstanding loans received from abroad dropped by USD 3.6bn to USD 169.4bn in December 2021, as compared to the end of 2020, according to the Central Bank.
The short-term loans — excluding trade credits — of the sector received from abroad amounted to USD 7.8bn, down USD 1.8bn from a year ago.
Some 64%, or USD 5bn, of short-term loans consisted of the liabilities of financial institutions, the bank added.
Broken down by currency, the majority of Turkey’s short-term credit, 37.7%, was in EUR, while 37.8% was in USD, 19.7% in TRY, and 4.8% in other currencies.
Long-term foreign loans at USD 161.6bn
The private sector’s long-term foreign debts fell by USD 1.8bn to USD 161.6bn in the same period.
“Regarding the currency composition, of the total long-term loans, 63.0% consists of USD, 33.5% consists of EUR, 1.7% consists of TRY and 1.8% consists of other currencies,” the bank said.
The private sector’s total outstanding loans received from abroad, based on a remaining maturity basis, point to principal repayments of USD 42.5bn for the next 12 months by the end of December 2021.