Ankara: Trkiye’s short-term external debt stock fell to $165.7 billion at the end of the fourth quarter of last year, the Turkish Central Bank said Thursday. The figure was down 0.3% from the previous quarter’s $166.2 billion, according to official data.

According to Anadolu Agency, the banking sector’s short-term external debt declined 0.8% to $72.5 billion, while short-term external debt of other sectors increased 4.5% to $68.3 billion in the same period.

Short-term foreign exchange (FX) loans that Turkish banks obtained from abroad decreased 10.8% to $8.6 billion, and FX deposits of non-residents held in resident banks fell 2.6% to $19 billion. ‘FX deposits of non-residents (excluding banking sector) recorded $21.2 billion increasing by 1.1%. In addition, non-residents’ Turkish lira deposits increased by 3% and recorded $23.7 billion,’ the central bank said.

Trade credit liabilities linked to foreign trade transactions rose 4.7% to $62.5 billion, while liabilities stemming from cash loans rose 1.7% to $5.8 billion.

The currency composition of the debt stock was 35% US dollars, 27.9% euros, 22.7% Turkish liras, and 14.4% other currencies. On a remaining maturity basis – which includes external debt due within one year – Trkiye’s short-term external debt stock totaled $225.4 billion at the end of the year.