The Turkish Central Bank (TCMB) has reported Turkey's short-term external debt stock (maturing within one year or less) as USD 144.7 billion as of April 2021, which is an increase of 4.5% on the figure as of 2020 yearend.
The Bank gave the following analysis of Turkey’s short-term external debt stock figure:
“Short-Term External Debt Statistics Developments – April 2021
Short-term external debt stock recorded USD 144.7 billion at the end of April, indicating an increase of 4.5 percent compared to the end of 2020. Specifically, in this period, banks’ short-term external debt stock increased by 1.0 percent to USD 58.5 billion and other sectors’ short-term external debt stock increased by 5.5 percent to USD 62.3 billion.
Short-term FX loans of the banks received from abroad decreased by 2.5 percent to USD 8.7 billion. FX deposits of non-residents (except banking sector) within residents banks decreased by 0.1 percent in comparison to the end of 2020 recording USD 20.1 billion, and FX deposits of non-resident banks recorded USD 13.8 billion increasing by 4.5 percent. In addition, non-residents’ Turkish lira deposits increased by 1.5 percent and recorded USD 16.0 billion.
Trade credits due to imports under other sectors recorded USD 56.7 billion reflecting an increase of 6.2 percent compared to the end of 2020.
From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 3.5 percent to USD 26.6 billion and the short-term debt of private sector increased by 3.2 percent to USD 94.3 billion compared to the end of 2020.
From the creditors side, short-term debt to monetary institutions under private creditors item increased by 5.0 percent to USD 64.0 billion and short-term debt to non-monetary institutions increased by 4.1 percent to USD 80.2 billion. Short-term bond issues amounted to 424 million as of the end of April decreasing from USD 464 million observed at the end of 2020. In the same period, short-term debt to official creditors recorded USD 177 million.
As of end of April, the currency breakdown of short-term external debt stock composed of 44.8 percent US dollars, 27.5 percent euro, 12.5 percent Turkish lira and 15.2 percent other currencies.
Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, recorded USD 190.4 billion, of which USD 18.2 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad. From the borrowers side, public sector accounted for 20.5 percent, Central Bank accounted for 12.5 percent and private sector accounted 67.0 percent in total stock.”