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 October 7, 2024. (AFP Photo)
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.
