Turkey's Short Term Foreign Debt Fell By 1.4 Percent

- Turkey's short term debt fell by 1.4 percent in the first two months of the year, as company barrowing falls due to lira depreciation, according to the data released by the Central Bank on Wednesday.

Short-term external debt stock fell to 131.0 billion dollars at the end of February, while total 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 stood at 164.9 billion dollars in the same period.

Specifically, in this period, banks’ short-term external debt stock increased by 0.2 percent to 96.0 billion dollars and other sectors’ short-term external debt stock decreased by 5.6 percent to 34.6 billion dollars.

Short-term FX loans of the banks received from abroad decreased by 5.1 percent and FX deposits of non-residents within resident banks decreased by 6.0 percent in comparison to the end of February, reaching to 45.7 billion dollars and 12.3 billion dollars, respectively.

Bank deposits recorded 25.7 billion dollars, reflecting an increase of 21.8 percent compared to the end of 2014 while non-residents’ Turkish lira deposits recorded 12.3 billion dollars indicating 8.6 percent decrease in comparison to the end of 2014.

Trade credits due to imports recorded under other sectors realized 25.5 billion dollars reflecting a decrease of 8.1 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, decreased by 3.9 percent to 17.2 billion dollars and the short-term debt of private sector decreased by 1.0 percent to 113.5 billion dollars compared to the end of the previous year.

From the creditors side, short-term debt to monetary institutions, under private creditors item, increased by 1.8 percent to 84.3 billion dollars while short-term debt to non-monetary institutions decreased by 7.0 percent to 42.4 billion dollars.

Short-term bond issues amounted to 4.1 billion dollars at the end of 2014 recorded 3.9 billion dollars as of the end of February. In the same period, short-term debt to official creditors recorded as 317 million dollars.