Türkiye’s short-term external debt reaches $176.4B at end of September

Turkish banks’ short-term external debt at $79B while other sectors’ debt stock totals $59B

Türkiye’s short-term external debt reached $176.4 billion at the end of September, registering a slight rise of 0.1% compared to the end of 2023, the country’s Central Bank said on Monday. The banks’ short-term external debt rose 15.5% to $79 billion and the short-term external debt of other sectors fell 3.9% to $59 billion over the same period. Short-term foreign exchange loans Turkish banks took from abroad soared 60.8% to $20.3 billion, while foreign exchange deposits of non-residents in resident banks declined 1.2% to $19.8 billion. Trade credits linked to imports by other sectors fell 5.7% to $51.2 billion, the data showed. Borrowers’ public sector short-term debt, primarily from public banks, climbed 14.8% to $39.6 billion while private sector short-term debt increased 3.3% to $98.4 billion. The currency breakdown of the debt stock was 47.3% US dollars, 22.4% euros, 14.8% Turkish liras, and 15.5% other currencies. On a remaining maturity basis, including external debt within one year, Türkiye’s short-term external debt stock totaled $344.1 billion, of which $21.4 billion belonged to resident banks and private sector affiliates from branches and affiliates abroad.