As of February 2024, the total debt of the private sector due to loans provided from abroad decreased by $394 million compared to the end of 2023, reaching $163.4 billion.
The Central Bank of the Republic of Turkiye published the private sector’s foreign loan debt developments for the February 2024 period.
Accordingly, the total debt of the private sector arising from loans provided from abroad decreased by $394 million in February compared to the end of 2023, falling to $163.4 billion. During this period, the private sector’s long-term loan debt originating from abroad decreased by $782 million to $153.9 billion, while short-term loan debt (excluding commercial loans) increased by $389 million to $9.5 billion.
While banks’ borrowings in the form of long-term loans increased by $126 million in February compared to the end of 2023, their borrowings in the form of bond issues increased by $1 billion, reaching $15.8 billion. During this period, the borrowings of non-banking financial institutions in the form of loans decreased by $152 million, while the bond stock decreased by $27 million to $1.2 billion.
In the same period, the borrowings of non-financial institutions in the form of loans decreased by $1.4 billion, while the bond stock decreased by $18 million and stood at $10.1 billion.
While short-term loan borrowings of banks decreased by $16 million to $4.5 billion in February compared to the end of 2023, the loan borrowings of non-financial institutions decreased by $313 million to $1.3 billion.
Principal repayment within one year is $49.7 billion
Regarding long-term loan debt, as of the end of February, debt to private creditors, excluding bonds, decreased by $1.3 billion compared to the end of last year, falling to $106.1 billion. During this period, debt to private creditors, excluding bonds for short-term loan debt, decreased by $354 million to $7.5 billion.
Looking at the foreign currency composition, 58.5% of the long-term loan debt of $153.9 billion was in US dollars, 35.4% in euros, 2.2% in Turkish lira and 3.9% in other currencies. . Short-term loan debt consisted of 45.3% in dollars, 28% in euros, 21.8% in Turkish lira and 4.9% in other foreign currencies.
On the other hand, 37.8% of the total long-term loan debt is owed to financial institutions, while 62.2% is owed to non-financial institutions. In terms of short-term total loan debt, 73.1% is owed to financial institutions, and 26.9% is owed to non-financial institutions.
When the total debt of the private sector originating from loans provided from abroad was examined according to the remaining maturity as of the end of February, it was calculated that the total principal repayments to be made within 1 year was at the level of $49.7 billion.
Source: AA / Prepared by Irem Yildiz