HomeEconomyTürkiye's short-term external debt totals $170.7B in October

Türkiye’s short-term external debt totals $170.7B in October

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Türkiye’s short-term exterior debt inventory picked up by 14.5% to $170.7 billion (TL 4.96 trillion) in October, when in comparison with the tip of 2022, the official information shared by the nation’s central financial institution confirmed on Friday.

The banks’ short-term exterior debt inventory elevated by 5.5% to $65.7 billion and different sectors’ short-term exterior debt inventory surged by 9.5% to $59.2 billion, the Central Bank of the Republic of Türkiye (CBRT) famous.

Short-term overseas trade loans of the banks obtained from overseas rose by 16.8% to $12.5 billion.

It added that commerce credit because of imports underneath different sectors recorded $53.2 billion, reflecting a rise of 9.2% in comparison with the tip of 2022.

“From the borrowers’ side, the short-term debt of the public sector, which consists of public banks, increased by 13.3% to $32.7 billion and the short-term debt of the private sector increased by 5.4% to $92.2 billion compared to the end of 2022,” the financial institution added.

As of the tip of October, some 50.8% of short-term exterior debt inventory was in U.S. {dollars}, 23.1% in euros, 9.7% in Turkish liras and the remaining 16.4% in different currencies.

“Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within one year or less regarding the original maturity, was recorded at a level of $219.9 billion, of which $16.3 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad,” the CBRT famous.

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Source: www.dailysabah.com

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