By NEWS DESK
Turkish Central Bank released the outstanding short-and long-term debts of the private sector. Accordingly, the private sector’s short-term overseas loans excluding trade credits amounted to USD 9.8 bn in January, down USD 49 m compared to the end of last year.
Some 83.6% of short-term loans consisted of the liabilities of financial institutions, the bank said. Broken down by currency, the majority of Turkey’s short-term credit, 40.6%, was in US dollars, while 33.6% was in euros, 23.6% in Turkish liras, and 2.2% in other currencies.
On the other side, the private sector’s long-term debt fell by USD 18 m to USD 164.1 bn in the same period compared to end of 2020.
The Central Bank said 43.3% of the total long-term foreign loans were owed by financial institutions and 56.7% by non-financial institutions.
On their currency composition, long-term loans totaled USD 164.1 bn with 62.3% consisting of US dollars, 33.5% in euros, 2.4% in Turkish liras, and 1.8% in other currencies, it added.
Based on a remaining maturity basis, the private sector’s total outstanding foreign loans indicate principal repayments of USD 43.9 bn over the next 12 months by the end of January.
