The short-term external debt stock saw a slight uptick of 0.1% in March compared to the end of 2023, totaling $175.4 billion.
The Central Bank of the Republic of Turkiye (CBRT) released its short-term external debt statistics for March 2024, revealing that the short-term external debt stock reached $175.4 billion by the end of March, marking a marginal increase of 0.1% from the end of 2023.
During this period, short-term external debt from banks surged by 4.1% to $71.2 billion, while other sectors experienced a decline of 3.7%, bringing their short-term external debt stock to $58.2 billion.
Bank-borrowed short-term loans from abroad saw a notable rise of 21%, reaching $15.3 billion compared to the end of 2023. Meanwhile, foreign exchange deposit accounts held by non-residents (excluding banks) decreased by 4.1% to $19.2 billion, and deposits from non-resident banks dipped by 2% to $20.3 billion. On the other hand, TL deposits from non-residents surged by 8.9% to $16.5 billion compared to the end of last year.
Import debts within other sectors declined by 3.4% , reaching $51.7 billion compared to the end of 2023.
Short-term external debt of the private sector is $91.8 billion
The short-term debt of the public sector, which consists entirely of public banks, increased by 9.3% compared to the end of 2023, reaching $37.7 billion, and the short-term external debt of the private sector decreased by 2.8%, reaching $91.8 billion.
During this period, short-term debts to monetary institutions under the title of private creditors decreased by 5.2% compared to the end of the year, reaching $90.6 billion, and debts to non-monetary institutions increased by 2.7%, reaching $79.8 billion.
Short-term bond issues, which were $1.7 billion at the end of 2023, reached $4.3 billion as of the end of March 2024, and short-term debts to official creditors reached $604 million.
When we look at the foreign currency composition of the short-term external debt stock, 51.6% was in dollars, 22.1% in euros, 10.6% in TL and 15.7% in other currencies.
In the same period, short-term external debt stock was at the level of $232 billion, according to the remaining maturity calculated using external debt data with 1 year or less left to maturity, regardless of its original maturity. $19.5 billion of the stock in question consisted of the debts of banks located in Turkiye and the private sector to their foreign branches and subsidiaries.
When evaluated on a debtor basis, it was seen that the public sector had a 23.1% share in the total stock, the Central Bank had a 19.8% share, and the private sector had a 57.1% share.
Source: Trthaber / Prepared by Irem Yildiz