Central Bank: Short-term external debt is $152.8 billion

SHAFAQNA TURKEY – The Central Bank of the Republic of Turkey (CBRT) has released short-term external debt statistics for January 2023.

Accordingly, the volume of short-term external debt in January increased by 3.5 percent compared to the previous month and amounted to $152.8 billion. During this period, the volume of short-term external debt of banks increased by 4.6 percent to $62.9 billion, while the volume of short-term external debt of other sectors increased by 2.8 percent to $56.2 billion.

Short-term loans used by banks from abroad decreased in January by 2.3 percent compared to the end of the previous month and fell to $10.5 billion.

During the same period, foreign currency deposits of non-residents, excluding banks, increased by 3.7 percent to $21 billion, while deposits of non-resident banks increased by 2 percent to $17.2 billion. Non-resident deposits in TL increased by 15.8 percent to $14.2 billion.

Import debt in other sectors increased by 2.3 percent compared to the previous month and rose to $50.3 billion.

The short-term external debt of the private sector is $87.4 billion.

When analyzed by debtor, short-term public sector debt, which consists entirely of state-owned banks, increased by 10 percent in January compared to the previous month to $31.8 billion, while short-term external debt of the private sector increased by 1.7 percent to $87.4 billion.

During this period, short-term debt to financial institutions under private creditors increased by 3.9 percent to $76.6 billion, while debt to non-monetary institutions increased by 3 percent to $75.3 billion.

Short-term bond issues, which stood at $676 million at the end of 2022, increased to $804 million by the end of January 2023. During the same period, short-term debt to official creditors totaled $92 million.

As of the end of January, 45.2 percent of short-term external debt was denominated in dollars, 25.8 percent in euros, 10.5 percent in Turkish lira and 18.5 percent in other currencies.

Regardless of original maturity, short-term external debt by remaining maturity, calculated using data on external debt maturing 1 year or less, was US$196.0 billion. $16.6 billion of said capital consisted of debts to foreign affiliates and subsidiaries of Turkish banks and the private sector.

When assessed on the basis of debtors, it was seen that the share of the public sector was 21.9 percent, the share of the Central Bank – 17.2 percent, and the share of the private sector – 60.9 percent in total assets.