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Turkish private sector foreign debt reaches $178.5B in September

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)
By Newsroom
Nov 15, 2024 12:09 PM

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

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.

Last Updated:  Nov 15, 2024 12:09 PM