Turkey’s short-term external debt stock rises to USD 129bn at end-2013.

By bne IntelliNews February 19, 2014

Turkey’s short-term external debt stock rose to USD 129.1bn at the end of 2013 from USD 100.6bn at end-2012, the Central Bank said on Wednesday. The short-term external debt stock rose gradually to USD 125bn at end-Q3/2013 from USD 114.5bn at end-Q1, data showed.

The short-term debt of public sector -wholly composed of public banks- increased by 59.5% y/y to USD 17.6bn at end-2013, and the short-term debt of private sector reached USD 110.7bn, representing a 25.1% y/y increase compared to the end of 2012, the Bank said.

Banks’ short-term external debt stock increased to USD 89.6bn at the end of 2013 from USD 68.2bn at end-2012. The debt stock stood at USD 88.1bn at end-Q3/2013. Short-term FX loans of the banks received from abroad increased by 46.4% to USD 42.7bn at end-2013, the Central Bank said.

Other sectors’ short-term external debt stock rose to USD 38.65bn at end-2013 from USD 31.3bn at the end of 2012. Other sector’s short-term debt was USD 36bn at end-Q3.

Short-term external debt stock on a remaining maturity basis -calculated based on the external debt maturing within 1 year or less regardless of the original maturity- is at USD 166.7bn as of end-December, with private sector accounting for 84.8% of total stock, the Central Bank said.

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