ISTANBUL 

Türkiye's short-term external debt stock totaled $173.7 billion as of the end of August, declining 1.4% from the end of 2023, according to data released Thursday by the Central Bank of the Republic of Türkiye (CBRT).

The report highlighted that banks’ short-term external debt rose by 11.5% to $76.3 billion, while other sectors saw a 3.4% decline, bringing their short-term debt to $59.3 billion.

The CBRT noted a significant 40.4% rise in short-term foreign exchange loans taken by Turkish banks from abroad, reaching $17.7 billion.

Foreign exchange deposits from non-residents in resident banks grew slightly by 0.3% to $20.1 billion, while foreign exchange deposits from non-resident banks decreased by 3%, also totaling $20.1 billion.

Trade credits linked to imports by other sectors declined by 4.1% from the end of last year, standing at $52.1 billion.

The breakdown by borrower showed that public sector short-term debt, primarily from public banks, increased by 14% to $39.3 billion, while private sector short-term debt grew by 1% to $96.3 billion.

In terms of currency composition, the short-term external debt stock consisted of 47.5% in US dollars, 23.4% in euros, 13.3% in Turkish lira, and 15.8% in other currencies.

On a remaining maturity basis, which includes external debt due within a year regardless of original maturity, Türkiye’s short-term external debt stock reached $231.2 billion. Of this, $21.3 billion is attributed to loans taken by resident banks and private sector affiliates from branches and affiliates abroad, according to the CBRT.