Private sector external loan debt down in May

Dünya Executive - - OVERVIEW -

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.

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