Türkiye’s short-term external debt rises to $172.7B in May

Türkiye’s short-term external debt stock rose 1.3% month-on-month to $172.7 billion at the end of May, the country’s central bank said Friday.

The short-term external debt stock calculated on a remaining-maturity basis, covering liabilities due within one year regardless of their original maturity, stood at $242 billion, according to the Turkish Central Bank.

Banks’ short-term external debt increased 3.9% from the previous month to $77.3 billion.

Their short-term foreign exchange loans obtained from abroad fell 7.5% to $7.1 billion.

Foreign exchange deposits held by non-resident banks at domestic banks rose 9.2% to $20.3 billion, while deposits belonging to other non-residents declined 1% to $22 billion.

Non-residents’ Turkish lira deposits increased 7.5% to $28 billion.

The short-term external debt of other sectors decreased 1% month-on-month to $70.7 billion.

Trade credit liabilities arising from foreign trade transactions fell 1.3% to $63.6 billion, while cash loan liabilities rose 1.3% to $7.1 billion.

US dollar-denominated liabilities accounted for 34.9% of the total short-term external debt stock, followed by the euro at 26.1%, the Turkish lira at 25.6% and other currencies at 13.4%.