Rise in Short-Term External Debt Stocks

The Central Bank of the Republic of Turkey (CBRT) has released a report detailing an increase in short-term external debt statistics for November. According to the report, the short-term external debt stock reached 171.9 billion USD by the end of November, marking a 15.3 percent increase compared to the end of 2022.

Further breakdown of the data shows that the short-term external debt stock from banks rose by 8 percent, reaching 67.3 billion USD, while the debt from other sectors saw a 7.9 percent increase, amounting to 58.3 billion USD. Short-term loans borrowed by banks from abroad surged by 24.6 percent, reaching 13.4 billion USD. Non-resident foreign exchange deposit accounts saw a decrease of 8.0 percent, totaling 19.9 billion USD, while non-resident bank deposits increased by 13.5 percent, reaching 19.1 billion USD. Additionally, TL deposits from non-residents rose by 13.9 percent and amounted to 15.0 billion USD.

Import debts under other sectors rose by 6 percent, reaching 51.7 billion USD. When analyzed on a debtor basis, the short-term debt of the public sector increased by 15.8 percent, totaling 33.4 billion USD, while the private sector’s short-term external debt increased by 5.4 percent, reaching 92.2 billion USD.

In terms of creditors, short-term debts to monetary institutions by private creditors rose by 27.3 percent, reaching 94.6 billion USD. Meanwhile, debts to non-monetary institutions saw a 1.9 percent increase, amounting to 75.4 billion USD. Short-term bond issuances climbed from 676 million USD to 1477 million USD, and debts to official creditors reached 395 million USD.

The foreign currency composition of the short-term external debt stock as of November 2023 was 50.0 percent US dollar, 23.5 percent Euro, 10.0 percent TL, and 16.5 percent other currencies. Lastly, when it comes to remaining maturity, the short-term external debt stock stood at 226.3 billion USD, with US$ 17.5 billion of it consisting of the debts of Turkish banks and the private sector to their foreign branches and subsidiaries.

 

This message was taken from this source and rewritten by artificial intelligence.