Short-term foreign debt stock reaches $114.6 bln

Turkey's central bank on Jan. 17 reported that the country's short-term external debt stock amounted to $114.6 billion as of the end of November 2019.

The external debt stock -- maturing within one year or less -- increased by 1 percent in November, compared to the end of 2018, according to the Central Bank of Turkey (CBRT).

The currency breakdown of the debt stock composed of 50.4 percent U.S. dollars, 29.7 percent euro, 13.8 percent Turkish lira and 6.1 percent other currencies.

"Specifically, in this period, banks' short-term external debt stock decreased by 2.4 percent to $55.8 billion and other sectors' short-term external debt stock increased by 4.0 percent to $52.4 billion," it said.

The rest of the amount -- some $6.4 billion -- belonged to the CBRT.

From the borrowers side, the short-term debt of public sector, which consists of public banks, totaled at $21.7 billion in November last year, decreasing 3.3 percent from the end of the previous year, while the private sector saw a 1.6 percent rise to reach $86.5 billion

The bank stressed that short-term foreign exchange (FX) loans of the banks received from abroad slipped 30.6 percent to $7.7 billion.

"FX deposits of non-residents (except banking sector) within residents banks increased by 9.5 percent in comparison to the end of 2018 recording $20.8 billion.

"And FX deposits of non-resident banks recorded $13.5 billion increasing by 3.8 percent," it noted.

The bank also said that non-residents' Turkish lira deposits went down 2 percent to hit $13.8 billion in the same period.

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