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Private sector external debts down $2.2 bln in one month
According to figures provided by the central bank, the long-term external debts of Turkey’s private sector totaled $127.73 billion by the end of last year.
Some $34.7 billion of the liabilities by the end of January constituted financial debts, whereas the remaining $90.8 billion was owed by non-financial institutions.
As of the end of January, $27.66 billion of the long-term financial debts was owed to banks, while $7.05 billion was due to be paid to non-bank financial institutions. Of the latter, $6.9 billion was in loans and $145 million was in loans considered to be foreign capital.
Of the long-term debts of the Turkish private sector from non-financial institutions abroad, which amounted to $90.8 billion, $86.8 billion was in loans, $3.5 billion in loans counted as foreign capital and $557 million in commercial loans.
Approximately $7.94 billion of the private sector’s external debts by the end of January was owed to state institutions, and the remaining $117.6 billion was to private lenders, which included banks ($67.89 billion), branches of foreign banks in Turkey ($34.15 billion) and non-financial institutions ($9.49 billion).
The private sector will repay the largest amount of its debt this year, considering its payment schedule until 2017. It will have paid $30.78 billion as of the end of 2010.
The central bank figures also reveal that the private sector owes Britain the most, at $25.3 billion. In other words, nearly one-fifth of its total debt is due to be paid to British lenders. Bahrain follows with $15 billion and Germany comes in third with $12.65 billion. Lenders from Luxembourg are expecting to receive $12.54 billion from their Turkish customers. US lenders will receive payments from Turkish private sector companies totaling $12.3 billion, followed by Malta ($10.36 billion) and the Netherlands ($10.34 billion).
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