Private sector external debt down in July
ANKARA
Turkey’s private sector foreign loans outstanding decreased in July compared to the end of 2019, the Turkish Central Bank said on Wednesday.
Short-term loans – excluding trade credits – to the sector received from abroad amounted to $ 8.5 billion in July 2020, down $ 199 million from the end of December 2019.
Some 83.5% of short-term loans were made up of commitments from financial institutions, the bank said.
Broken down by currency, the majority of Turkey’s short-term credit, 43.4%, was in euros, with 39.3% in US dollars, 15.1% in Turkish lira and 2.2% in other currencies .
Long-term private sector debt fell $ 16.8 billion to $ 162.2 billion over the same period.
The bank said 43.7% of total long-term foreign loans were owed by financial institutions.
“Regarding the currency composition of total long-term loans, 62.8% consists of US dollars, 34.0% euros, 2.5% Turkish lira and 0.7% other currencies, ”he said.
The total outstanding private sector loans received from abroad, on a residual maturity basis, suggests principal repayments of $ 41.9 billion for the next 12 months by the end of July.