Turkish private sector’s total foreign loans rise to $212 bln

ISTANBUL - Doğan News Agency

The Turkish private sector’s total foreign debt rose by $14.5 billion in 2014 to $212 billion, according to data released by the Central Bank of Turkey on Feb. 13.

The private sector’s outstanding long-term loans from abroad rose to $167.5 billion at the end of December, an $11.5 billion increase from the end of 2013. Short-term foreign loans, excluding trade credits, rose by $3 billion to $44.5 billion over the same period.

Banks’ foreign loans increased by $5.9 billion, while bond loans increased by $5.5 billion compared to the end of 2013.

Non-bank financial institutions’ loans fell by $1.5 billion in the same period, while bond liabilities rose to $3 billion, increasing by $1.5 billion.

Non-financial institutions’ loans recorded a decrease of $814 million compared to the end of 2013, while bond liabilities amounted to $5 billion, increasing by $1.7 billion in the same period.

The private sector’s principal repayments to be made in the next 12 months, as of the end of December 2014, stood at $71.7 billion.