Stock of short-term external debt reaches record in October

The Central Bank of the Republic of Turkey (CBRT) published the evolution of short-term external debt statistics for October. Thus, according to CBRT data, at the end of October the stock of short-term external debt increased 17.1 percent compared to the end of 2021, reaching 142.3 billion dollars.

At the end of October 2022, the remaining short-term external debt stock by maturity, calculated using data on external debt with a maturity of 1 year or less, regardless of its original maturity, reached a record level of US$186.3 billion. The data was recorded at $185.9 billion the previous month.

REDUCES BANK LOANS ABROAD

In this period, the stock of short-term external debt of banks increased 13.4 percent and stood at 58.3 billion dollars, while the stock of short-term external debt of other sectors increased 17.4 percent and stood at 51.800 million dollars.

While short-term loans used by foreign banks decreased 6.1 percent compared to the end of 2021 to reach 10.4 billion dollars, the foreign currency deposit account of non-residents, excluding banks, increased 16.9 percent. and reached 17,900 million dollars. 18.0 percent to $18.4 billion.

In addition, non-resident deposits in TL increased 22.7 percent compared to the end of last year and reached $11.6 billion.

PUBLIC BANK DEBT INCREASES 19.5 PERCENT

When analyzed by debtor, the short-term debt of the public sector, which consists entirely of state banks, increased by 19.5 percent compared to the end of 2021 to 26.6 billion dollars, while the external debt of The short term of the private sector increased by 13.9 percent and registered in 83,500 million dollars.

At the end of October 2022, the foreign currency composition of the short-term external debt stock was 45.8% in dollars, 26.1% in euros, 9.2% in TL and 18.9% in other currencies.

A $16.1 billion portion of that stock consisted of debts with foreign branches and affiliates of Turkish banks and the private sector. When evaluated on the basis of debtors, the public sector had a 20.6 percent share, the Central Bank 17.3 percent, and the private sector 62.1 percent of the total stock.