The Central Bank of the Republic of Turkey (CBRT) released short-term external debt statistics for May. Accordingly, the short-term external debt stock increased by 1.3 percent compared to the previous month, reaching $172.7 billion.
Regardless of original maturity, short-term external debt on a remaining maturity basis, which refers to debt with a remaining maturity of one year or less, amounted to $242 billion.
Banks' debt increased
The short-term external debt stock originating from banks rose by 3.9 percent in May to $77.3 billion. While short-term loans and securities liabilities used by domestic banks from abroad decreased by 7.5 percent to $7.1 billion, deposits of foreign banks in Turkey increased by 9.2 percent to $20.3 billion. Deposits excluding banks remained at $22 billion, while Turkish lira-denominated deposit liabilities rose by 7.5 percent to $28 billion.
Other sectors' debt decreased
The short-term external debt of other sectors decreased by 1 percent to $70.7 billion. Trade credit liabilities fell by 1.3 percent to $63.6 billion, while cash loan liabilities rose by 1.3 percent to $7.1 billion.
Currency breakdown
As of end-May, 34.9 percent of short-term debt was in US dollars, 26.1 percent in euros, 25.6 percent in Turkish lira, and 13.4 percent in other currencies.
In the debt stock calculated on a remaining maturity basis, deposit liabilities were recorded at $70.2 billion, and loan and securities liabilities at $71.9 billion.
