The Turkish private sector’s outstanding loans received from abroad continued to drop in October from end-2018, the country’s Central Bank announced on Dec. 16.
The sector’s long-term debts totaled $193.1 billion as of October, falling $16.3 billion from the end of December last year, the Central Bank of Turkey said in a statement.
It noted that 45.5 percent of the long-term debts in the month were held by financial institutions.
Some 60.8 percent of Turkey’s private sector long-term debt was in U.S. dollars, with 33.7 percent in euros, 3.9 percent in Turkish liras, and 1.6 percent in other currencies.
The sector’s short-term loans — debt that must be paid in the next 12 months — also slipped $4 billion to $11.4 billion in the same period.
Financial institutions held 73.4 percent of the short-term loans, while 26.6 percent consisted of liabilities of non-financial institutions.
“Regarding the currency composition of the total short-term loans, 52.0 percent consists of U.S. dollars, 29.1 percent consists of euros, 18.3 percent consists of Turkish liras and 0.6 percent consist of other currencies,” it added.
Hurriyet Daily News