Turkey's private sector debt tops 210 billion dollars

Turkey's private sector was in more than 210 billion dollars of foreign debt at the end of November 2019, revealed the Central Bank. While $10.2 billion of the total is floating debt, almost $200 billion of the total debt is in long-term loans. While 60.9 percent of the foreign loans were in dollars, the second largest slice was euro, making up 33.7 percent.

Monday January 20 2020 02:43 pm

Duvar English

Turkey's private sector was in 10.2 billion dollars of floating foreign debt and owed almost 200 billion dollars in long-term loans as of November 2019, revealed the Central Bank of the Republic of Turkey (TCMB).

Loans taken out by banks have decreased by 9.1 billion dollars since the end of 2018, and banks' bonds total about 27 billion dollars, the TCMB data showed.

There was a 3.2 billion dollar decrease in loans taken out by financial institutions that aren't banks and a 558 million dollar dip in bonds, putting the total at 3.7 billion dollars.

The 193.5 billion dollars of long-term foreign exchange loans was composed of 60.9 percent debt in dollars, 33.7 percent in euros, 3.8 percent in Turkish lira and 1.6 percent in other currencies.

45.5 percent of long-term foreign exchange loans were made to financial institutions while 54.5 percent were in the name of non-financial institutions.

Considering the interest rate, capital payments for the following year will be 51.8 billion dollars.