Türkiye’s short-term foreign debt hits record $236.6 bn in June

According to data released by the Central Bank, Türkiye’s short-term external debt reached a record high of $236.6 billion in June. The sharp increase in short-term loans taken by banks from abroad played a significant role in this rise.

The short-term external debt stock from banks increased by 10.2% to $75.4 billion, while the short-term external debt stock of other sectors decreased by 1.6% to $60.4 billion.

This situation poses a significant risk to the Turkish economy. It is argued that this high debt, which must be repaid in the short term, could adversely be affected by fluctuations in the exchange rate.