Private sector external loan debt down in May
Turkey’s outstanding short-term foreign private sector loans fell in May, the country’s Central Bank (CBRT) said July 17. Excluding trade credits, the private sector’s short-term external loans amounted to $12 billion, declining $3.4 billion compared to the end of 2018.
The CBRT said that 72.5 percent of all shortterm loans consisted of liabilities of financial institutions. On the long-term side, the private sector’s overseas loans totaled $204.5 billion as of May, down $5 billion from the end of last year. Financial institution liabilities constituted 48.1 percent of long-term external loans, the Bank said. “Regarding the currency composition, of the total long-term loans totaling $204.5 billion, 60.9 percent consists of U.S. dollar, 33.9 percent consists of euro, 3.8 percent consists of Turkish lira and 1.3 percent consists of other currencies,” the CBRT said.