Türkiye's short-term external debt declines to $165.7 billion

Türkiye's short-term external debt stock decreased to $165.7 billion by the end of October, according to the latest data from the Central Bank of the Republic of Türkiye (CBRT). This figure represents a drop from $169.8 billion recorded at the close of September, indicating a shift in the country's near-term foreign liability profile.

Sectoral Breakdown and Key Movements

The data reveals a diverging trend between economic sectors. The short-term external debt held by the banking sector increased by 0.8% to reach $73.4 billion. In contrast, the debt burden of other sectors fell by 0.7%, settling at $64.7 billion. A significant development was the 16.7% contraction in foreign exchange (FX) loans obtained by Turkish banks from abroad, which fell to $7.8 billion.

Deposit Trends and Currency Composition

Non-resident holdings showed mixed signals. While FX deposits from non-residents (excluding banks) in domestic banks saw a marginal 0.4% increase to $21.1 billion, non-resident deposits denominated in Turkish lira jumped by 9.2% to $25.1 billion. The currency structure of the total short-term debt stock was led by the US dollar (34.5%), followed by the euro (26.8%), Turkish lira (23%), and other currencies (15.7%).

Broader Liabilities and Economic Context

On a remaining maturity basis, which includes all external debt due within the next year, Türkiye's total obligation stood higher at $226 billion. The report also noted declines in specific liability categories: trade credits linked to foreign trade fell to $59.2 billion, and cash loan liabilities decreased to $5.5 billion. These metrics are closely monitored as indicators of the nation's external financial stability and vulnerability to global liquidity conditions.