Turkish private sector external debt down in March

Turkey’s short-term and long-term private sector debt stock declined in March, the Central Bank of the Republic of Turkey (CBRT) said on Monday.

Total private sector external debt fell to $ 170.2 billion (TL 1.41 trillion) in March, down $ 3.5 billion (TL 29 billion).

Short-term private sector loans abroad – excluding trade credits – totaled $ 9.1 billion in March, down $ 605 million from the end of last year.

Some 83.7% of short-term loans were made up of commitments from financial institutions, the bank said.

Broken down by currency, the majority of Turkey’s short-term credit, 39.1%, was in US dollars, while 35.8% was in euros, 22.3% in Turkish lira and 2.8% in others. currencies.

Long-term private sector debt also fell by $ 2.9 million to $ 161 billion over the same period.

The central bank said 43% of total long-term foreign loans were owed by financial institutions and 57% by non-financial institutions.

Long-term loans totaled $ 161 billion, of which 63.4% in US dollars, 32.6% in euros, 2.2% in Turkish lira and 1.8% in other currencies, he said. added.

Based on residual maturity, total private sector foreign loans outstanding show principal repayments of $ 42.2 billion over the next 12 months by the end of March.