Anadolu Agency

Turkey’s short-term external debt stock totaled $118 billion as of October, the country’s Central Bank said on Dec. 17.

Debt maturing within the next 12 months rose 3.6 percent in October compared to the end of last year, the bank said in a statement.

“Specifically, in this period, banks’ short-term external debt stock decreased by 1 percent to $56.6 billion and other sectors’ short-term external debt stock increased by 8.2 percent to $55.0 billion,” it noted.

Half of the country’s short-term foreign debt stock was in U.S. dollars, followed by 30.6 percent in euros, 13.4 percent in Turkish liras, and 6 percent in other currencies.

The public sector’s short-term debt, mainly of public banks, hit $21.7 billion, up 3.7 percent, while the figure for the private sector was up 5.2 percent to $89.9 billion during the same period.

The short-term foreign exchange (FX) loans banks received from abroad slipped 22.1 percent from end-2018 to $8.6 billion in October.