Turkish private sector foreign debt reaches $178.5B in September
This aerial view shows the Turkish bath, in the historic Fatih district of Istanbul on Oct. 7, 2024. (AFP Photo)
November 15, 2024 12:09 PM GMT+03:00
The foreign debt of Türkiye's private sector reached $178.5 billion as of September, marking an increase of $14.3 billion from the end of 2023, according to figures released by Türkiye's central bank on Friday.
Breakdown of long-term and short-term debt
The central bank of Türkiye reported that long-term loans rose by $1.7 billion, totaling $165.2 billion. Short-term loans, excluding trade credits, increased by $4.1 billion, reaching $13.3 billion.
The currency distribution of long-term debt was as follows:
- 57.6% in U.S. dollars
- 35% in euros
- 2.5% in Turkish lira
- 4.9% in other currencies
For short-term debt, the breakdown was:
- 43.8% in US dollars
- 15.9% in euros
- 35.3% in Turkish lira
- 5% in other currencies
A drone view shows business and financial district of Levent, which comprises banks headquarters and popular shopping malls, in Istanbul, Türkiye. (AFP Photo)A general view of the financial and commercial Levent neighborhood, where many of the leading banks and companies have their headquarters, in Istanbul, Türkiye, Aug. 16, 2018. (AP Photo)Business and financial district of Levent, which comprises of leading Turkish banks' and companies' headquarters, is seen behind a residential neighborhood in Istanbul, Türkiye, November 30, 2017. (Reuters Photo/Murad Sezer)Skyscrapers are seen in the business and financial district of Levent, which comprises leading banks' and companies' headquarters, Istanbul, Türkiye, March 29, 2019. (Reuters Photo)
Debt repayments expected over next 12 months
The central bank stated that, based on a remaining maturity basis, the total principal repayments for foreign loans are projected to be $54.3 billion over the next 12 months.
November 15, 2024 12:09 PM GMT+03:00
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