Private sector foreign debt falls in November
Turkey’s outstand ng fore gn debts n the pr vate sector decreased n the per od from December 2017 to November 2018, the Central Bank sa d on January 23. Long-term debts reached $213.3 b ll on as of November, decreas ng $8.8 b ll on from the end of 2017, the Bank sa d n a wr tten statement. It also sa d the sector’s short-term loans dropped by $3.1 b ll on to $15.5 b ll on dur ng the same per od. “As for the sectoral breakdown by the end of November, of the total long-term loans total ng $213.3 b ll on,
47.9 percent cons st of l ab l t es of f nanc al
nst tut ons whereas 52.1 percent cons st of the l ab l t es of non-f nanc al nst tut ons,” the statement sa d. Some 59.6 percent of Turkey’s pr vate sector long-term debt was n U.S. dollars, w th 34.7 percent n euros, 4.1 percent n Turk sh l ras, and 1.6 percent n other currenc es.
EBRD boosts Turkish lira financing
The European Bank for Reconstruct on and Development (EBRD) stepped up Turk sh l ra f nanc ng n Turkey n 2018 to a record 331 m ll on euros (some $390 m ll on) through 13 transact ons w th Turk sh compan es. That was up from 228.8 m ll on euros ($258.5 m ll on) n 2017, accord ng to a statement from the bank on January 24. “The EBRD ncreased ts support for local currency f nanc ng n Turkey to a th rd of ts total nvestment n the country n 2018, a part cularly challeng ng year when an econom c slowdown and a dramat c currency deprec at on affected many pr vate sector compan es,” the statement read. The bank nvested one b ll on euros (some $1.18 b ll on) n Turkey through 34 projects. Accord ng to the statement, more than half of the EBRD’s nvestment last year was n support of susta nable use of energy. S nce 2009, the EBRD has nvested over 11 b ll on euros n var ous sectors of the Turk sh economy w th almost all nvestment n the pr vate sector.
The bank’s 7 b ll on euro (some $8 b ll on) Turkey portfol o s the largest among 38 econom es where the bank nvests, t sa d.