Türkiye Posts Decline in Short-Term Foreign Debt

(MENAFN) Türkiye's short-term external debt portfolio declined to $165.7 billion by the close of October, the Turkish Central Bank reported Thursday.

The total dropped by $21 million compared to September's $169.8 billion figure, official statistics revealed.

The banking sector's short-term foreign obligations climbed 0.8% to reach $73.4 billion, while other sectors witnessed a 0.7% contraction to $64.7 billion during the identical timeframe.

Short-term foreign exchange (FX) loans that Turkish banks secured from international sources plummeted 16.7% to $7.8 billion, and FX deposits held by non-residents in domestic banks slipped 0.5% to $19.4 billion.

"FX deposits of non-residents (excluding banking sector) recorded $21.1 billion increasing by 0.4%," the central bank said. "In addition, non-residents' Turkish lira deposits increased by 9.2% and recorded $25.1 billion."

Trade credit obligations tied to international commerce transactions decreased 0.7% to $59.2 billion, while cash loan liabilities contracted 1.1% to $5.5 billion.

The debt stock's currency breakdown consisted of 34.5% US dollars, 26.8% euros, 23% Turkish liras, and 15.7% alternative currencies.

Based on remaining maturity calculations—encompassing external debt payable within twelve months—Türkiye's short-term external debt stock stood at $226 billion at October's end.

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