External loan burden on Turkish private sector slips
ANKARA - Anadolu Agency
The Turkish private sector's outstanding loans received from abroad decreased in January from end-2019, the country's Central Bank said on March 16.
The sector's long-term debts totaled $189.8 billion as of January, a fall of $1.8 billion from the end of last year, the bank said in a statement.
It noted that 46.1 percent of the long-term debts in the month were held by financial institutions.
Some 61.7 percent of Turkish private sector long-term debt was in U.S. dollars, with 32.9 percent in euros, 3.7 percent in Turkish liras, and 1.7 percent in other currencies.
The sector's short-term loans - debt that must be paid in the next 12 months - also went down $1.1 billion to $8.4 billion in the same period.
Financial institutions held 77.9 percent of the short-term loans, while 22.1 percent consisted of liabilities of non-financial institutions.
"Regarding the currency composition of the total short-term loans, 44.9 percent consists of U.S. dollars, 32 percent consists of euros, 22.4 percent consists of Turkish liras and 0.7 percent consists of other currencies," it added.
