Turkish private sector’s external debt down in July
The value of the Turkish private sector’s outstanding loans received from foreign countries fell in July, the country’s Central
Bank announced on September 18. The private sector’s short-term external loans - excluding trade credits - amounted to $12.9 billion in July, down $2.5 billion versus the end of last year, according to the Central Bank (CBRT). The Bank said that 75.3 percent of all short-term loans consisted of liabilities of financial institutions. On the long-term side, the private sector’s loans from abroad totaled $198.5 billion as of July, down $11.2 billion from the end of 2018. Financial institution liabilities constituted 47 percent of long-term external loans, the CBRT noted. Regarding the currency composition, of the total $198.5 billion in long-term loans, 60.6 percent are USD, 33.8 percent euros, 4.1 percent liras and 1.5 percent other currencies.