The Central Bank of Turkiye (CBRT) announced that Turkiye’s short-term external debt stock rose to $182.5 billion in May 2024, marking a 3.6% increase compared to the end of 2023. Details on debt increases from banks and other sectors.
The Central Bank of Turkiye (CBRT) has released its statistics on short-term external debt for May 2024. According to the data, the short-term external debt stock reached $182.5 billion by the end of May, showing a 3.6% increase compared to the end of 2023.
Short-term external debt from banks increased by 11.6% to $76.4 billion, while the debt stock from other sectors saw a slight 0.1% rise to $61.4 billion. The private sector’s short-term external debt increased by 3.4% to $98.6 billion.
Short-term loans taken by banks from abroad surged by 32.5% to $16.7 billion. Excluding banks, deposits held by non-residents decreased by 6.8% to $18.6 billion, and deposits by foreign-resident banks also fell by 0.9% to $20.5 billion. Non-residents’ deposits in Turkish Lira saw a significant 35.6% increase, reaching $20.5 billion.
Debts categorized under other sectors, including import debts, rose by 0.4% to $54.5 billion. The short-term debt of the public sector increased by 13.7% to $39.2 billion, while debts to monetary institutions rose by 4.9% to $100.2 billion compared to year-end figures.
Looking at the currency composition of the short-term external debt stock, 49.5% was denominated in dollars, 21.8% in euros, 13.5% in Turkish Lira, and 15.2% in other currencies. Calculated based on debt due within 1 year or less regardless of original maturity, the remaining maturity-based short-term external debt stock amounted to $235.3 billion.
Source: AA / Prepared by Irem Yildiz