Private sector’s external debt down in October

The private sector’s outstanding foreign loans in October totaled USD 169.8bn, down by USD 3.1bn compared to the end of 2020, according to the Central Bank

The short-term loans – excluding trade credits – of the sector received from abroad were USD 8.4bn as of October, down by USD 1.3bn from the end of last year.

Some 83.3% of short-term loans consisted of the liabilities of financial institutions, while 16.7% was made up of liabilities of the non-financial institutions.

Broken down by currency, 36% of the country’s short-term credit was in EUR, 37.8% in USD, 21.9% in TRY, and 4.3% in other currencies.

The bank said 40.1% of the total long-term foreign loans were owed by financial institutions.

“Regarding the currency composition, of the total long-term loans in the amount of USD 161.4bn, 62.3% consists of USD, 33.9% consists of EUR, 2% consists of TRY and 1.8% consists of other currencies,” the Central Bank said.

The private sector’s total outstanding loans received from abroad, based on a remaining maturity basis, point to principal repayments of USD 42.2bn for the next 12 months by the end of October.

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