As of the end of September, short-term external debt stock increased by 9.6 percent compared to the end of 2022 and reached 163.3 billion dollars.
According to the statement released by the Central Bank of the Republic of Turkey (CBRT), in this period, short-term external debt stock of banks increased by 3.3 percent to 64.2 billion dollars, while short-term external debt stock of other sectors decreased by 1.3 percent to 53.4 billion dollars.
The statement by the CBRT is as follows:
- Short-term external debt stock recorded USD 163.3 billion at the end of September, indicating an increase of 9.6 percent compared to the end of 2022. Specifically, in this period, banks’ short-term external debt stock increased by 3.3 percent to USD 64.2 billion and other sectors’ short-term external debt stock decreased by 1.3 percent to USD 53.4 billion.
- Short-term FX loans of the banks received from abroad increased by 14.3 percent to USD 12.1 billion. FX deposits of non-residents (except banking sector) within residents banks decreased by 8.8 percent in comparison to the end of 2022 recording USD 19.7 billion, and FX deposits of non-resident banks recorded USD 18.1 billion increasing by 7.4 percent. In addition, non-residents’ Turkish lira deposits increased by 9.1 percent and recorded USD 14.3 billion.
- Trade credits due to imports under other sectors recorded USD 47.2 billion reflecting a decrease of 3.1 percent compared to the end of 2022.
- From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 10.2 percent to USD 31.8 billion and the short-term debt of private sector decreased by 1.8 percent to USD 85.7 billion compared to the end of 2022.
- From the creditors side, short-term debt to monetary institutions under private creditors item increased by 23.6 percent to USD 91.7 billion and short-term debt to non-monetary institutions decreased by 5.0 percent to USD 70.3 billion. Short-term bond issues amounted to 978 million as of the end of September increasing from USD 676 million observed at the end of 2022. In the same period, short-term debt to official creditors recorded USD 270 million.
- As of end of September, the currency breakdown of short-term external debt stock composed of 49.4 percent US dollars, 23.5 percent euro, 9.9 percent Turkish lira and 17.2 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 211.0 billion, of which USD 16.2 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad. From the borrowers side, public sector accounted for 20.5 percent, Central Bank accounted for 21.7 percent and private sector accounted 57.8 percent in total stock.