Turkish private sector’s foreign loan burden decreases

Faizah Kamal 17-Dec-2019

The Turkish private sector’s outstanding loans total received from abroad continued to drop in October, since the end of 2018. This was announced by the country’s Central Bank on Dec. 16.

The sector’s long-term debts totalled to $193.1 billion as of October, falling $16.3 billion from the end of December last year, claims the Central Bank of Turkey.

It noted that 45.5 percent of the long-term debts in the month were held by financial institutions.

Some 60.8 percent of Turkey’s private sector long-term debt was in U.S. dollars. Meanwhile, 33.7 percent was in euros, 3.9 percent in Turkish liras, and 1.6 percent in other currencies.