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Short-term external debt stock was $134.5 billion in May

Short-term external debt stock increased by 10.6% in May 2021 compared to the end of the year, reaching $134.5 billion.

Short-term external debt statistics for the period of May 2022 were announced by the Central Bank of the Republic of Turkey (CBRT).

Accordingly, the short-term external debt stock increased by 10.6% in May compared to the end of 2021, reaching $134.5 billion. In this period, banks’ short-term external debt stock increased by 9.2% to $56.1 billion, while the short-term external debt stock of other sectors increased by 10.9% to $49 billion.

Short-term loans used by banks from abroad increased by 11.1% in May compared to the end of 2021 and reached $12.3 billion.

Foreign exchange deposits of non-residents excluding banks increased by 0.8% to $15.4 billion, while deposits of non-resident banks increased by 12.1% to $17.5 billion. In the same period, non-residents’ TL deposits increased by 16% to $11 billion.

Import debts under other sectors increased by 12.8% compared to the end of 2021 and rose to $43.8 billion.

The short-term external debt of the private sector is $80.8 billion

When analyzed on a debtor basis, the short-term debt of the public sector, which consists entirely of public banks, increased by 9.5% compared to the end of 2021 to $24.3 billion, while the short-term external debt of the private sector increased by 10.1% to $80.8 billion.

In this period, short-term debts to monetary institutions under the heading of private creditors increased by 12.4% compared to the end of the year to $71.3 billion, while debts to non-monetary institutions increased by 8.7% to $62.7 billion.

Short-term bond issuances, which were $460 million at the end of last year, reached $437 million as of the end of May. In the same period, short-term debts to official creditors were recorded as $88 million.

45.5% of the short-term external debt stock is in dollars

As of the end of May, the short-term external debt stock consisted of 45.5% in dollars, 25.9% in euro, 9.1% in TL and 19.5% in other currencies.

As of the end of May, the short-term external debt stock according to the remaining maturity, which is calculated using the external debt data with a maturity of 1 year or less, regardless of its original maturity, stood at $182.3 billion. A portion of $17.5 billion of the said stock consisted of debts to foreign branches and subsidiaries of banks and the private sector located in Turkey.

When evaluated on a debtor basis, it was seen that the public sector had a share of 18.9%, the Central Bank had a share of 16.1% and the private sector had a 65% share in the total stock.

Source: Trthaber / Translated by Irem Yildiz

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