Turkey's Short Term External Loans Rise To 133 Billion Dollars

- Turkey's short-term external debt stock rose by 83 million dollars to 133.0 billion dollars in January, against the end of 2014, according to the data released by the Central Bank on Monday.

Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regardless of the original maturity, rose to 166.1 billion, over the same period.

An amount of 28.2 billion dollars of the above-mentioned stock indicates debt liabilities of the resident banks and private sectors to banks’ branches and affiliates abroad.

According to the classification by borrowers, Public Sector holds 13.4 percent, Central Bank holds 0.7 percent and Private Sector holds for 85.9 percent of total external debt stock.

Banks’ short-term external debt stock rose by 1.4 percent to 97.3 billion dollars and other sectors’ short-term external debt stock fell by 3.5 percent to 35.4 billion.

Short-term FX loans of the banks received from abroad fell by 142 million dollars and FX deposits of non-residents within resident banks fell by 6.3 percent in January, reaching to 48.2 billion dollars and 12.3 billion, respectively.

Bank deposits stood at 23.1 billion, reflecting an increase of 9.2 percent compared to the end of 2014 while non-residents’ Turkish lira deposits stood at 13.8 billion dollars indicating 3.1 percent increase in comparison to the end of 2014.

Trade credits due to imports stood at under other sectors realized 26.2 billion dollars reflecting a decrease of 5.7 percent compared to the end of the previous year.

From the borrowers side, the short-term debt of public sector, which wholly composed of public banks, fell by 4.3 percent to 17.1 billion dollars and the short-term debt of private sector rose by 0.8 percent to 115.6 billion dollars compared to the end of the previous year.

From the creditors side, short-term debt to monetary institutions, under private creditors item, rose by 3.7 percent to 85.9 billion dollars while short-term debt to non-monetary institutions fell by 5.8 percent to 43.0 billion.

Short-term bond issues rose to 4.2 billion dollars at the end of 2014, and short-term debt to official creditors stood at as 315 million, over the same period.

As the end of January, the currency breakdown of short-term external debt stock is composed of 54.8 percent dollars, 28.7 percent euro, 14.0 percent Turkish Lira and 2.5 percent other currencies.