Turkey's short-term foreign debt totals to an astounding $170.9 billion in July.
The Central Bank of the Republic of Türkiye has announced that the country's short-term external debt reached $170.9 billion at the end of July. This marks a 1.1% increase from the previous month's figure of $169 billion.
The breakdown of the debt stock reveals that 36% is held in U.S. dollars, 26% in euros, 23% in Turkish lira, and 15% in other currencies.
In the banking sector, non-residents' Turkish lira deposits increased by 7.8% to $24.2 billion. However, foreign exchange deposits of non-residents (excluding the banking sector) totaled $20.9 billion, a decrease of 0.2%. Foreign exchange deposits in domestic banks dropped by 2% to $19.5 billion.
Short-term foreign exchange (FX) loans Turkish banks took from abroad fell by 3.5% to $9.8 billion. Liabilities from cash loans rose by 6.6% to $5.3 billion in July.
The short-term external debt of other sectors climbed by 2.1% to $67.7 billion. Trade credit liabilities linked to foreign trade transactions increased by 1.7% to $62.4 billion in July.
It is worth noting that the main sponsors or largest creditors of Turkey's short-term external debt are typically international banks and foreign financial institutions, especially those from Europe and the US. However, specific creditor breakdown details for the exact figure in July 2021 are not provided in the available search results, and such data is usually sourced from Turkey's central bank or official financial reports.
Banks' short-term external debt increased by 1.3% to $74.4 billion. On a remaining maturity basis, including external debt due within one year, Turkey's short-term external debt stock totaled $223.3 billion at the end of July.
These figures provide a snapshot of Turkey's short-term external debt situation as of the end of July 2021. The Central Bank will continue to monitor the situation closely and release updates as necessary.
