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The fresh statistics listed the US as having the third largest exposure to the outstanding long-term loans, at $20bn. It was followed by the Netherlands with $14bn and Bahrain with $11bn (full table published on IntelliNews Pro).
Of lenders, the European Bank of Reconstruction and Development (EBRD) had the largest share, at $10bn. Next were the European Investment Bank with $5bn, the World Bank Group’s International Finance Corporation with $3bn,
“European countries have a combined $111bn exposure to Turkish private companies’ outstanding long-term foreign credits”
the International Bank of Reconstruction and Development with $2bn, the Islamic Development Bank with $397mn and the Council of Europe Development Bank with $290mn.
The data also showed Turkish banks’ outstanding long-term loans declined by 2% q/q to $94bn at end-Q2, with $31bn of that made up of bonds.
Non-financial private companies’ total outstanding loans edged down 1% y/y to $111bn at end-June, including $91bn worth of bank loans, $12bn worth of loans from parent companies or affiliates, $442mn in trade credits and $8bn in bonds.
Private creditors provided $154bn of the total of $222bn of outstanding loan stock, while $91bn came from non-resident commercial banks and $31bn was sourced from foreign branches or affiliates of local banks.
Data from the central bank also showed that the private sector's short-term loans volume rose by 1% q/q to $19bn as of end-June, including $13bn worth of loans received by Turkish lenders.
The International Finance Corporation has the largest exposure when it comes to the Turkish private sector’s outstanding short-term loans, at $372mn.
The UK also topped the list of countries with the highest exposure to the Turkish private sector’s short-term loans,
at $3.99bn. It was followed by the Netherlands with $3.27bn. European countries’ total exposure to the short-term loans stood at $15.5bn as of the end of June.
On a remaining maturity basis for the next one-year period, the Turkish private sector has to repay a total of $69.6bn for its loan debts, including $5.5bn in August and $6.89bn in September. The highest amounts to be paid are $8.92bn in October and $7.84bn in May 2019.
By the end of 2018, the Turkish private sector’s scheduled total loan debt repayments amount to $32.3bn.
“The UK also topped the list of countries with the highest exposure to the Turkish private sector’s short- term loans”
Private sector long-term foreign debt moved up 9% y/y to stand at $222bn as of end-2017 from $202bn at end-2016, while the short-term debt rose by 28% y/y to $18bn as of end-2017 from $14bn a year previously.
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March 2, 2018 www.intellinews.com
Putin promises guns and butter in state of the nation speech
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Russian President Vladimir Putin gave one of the most aggressive speeches of his career on March 1, promising the population a lot more “butter” and explicitly targeting the USA with “guns” if Washington continued to bully his country with sanctions and threaten it with missiles.
The speech was widely anticipated as the show-
Slaying of journalist sparks Slovak coalition crisis
bne IntelliNews
Pressure is mounting on Slovak Prime Minister Robert Fico after the murder of journalist Jan Kuciak, whose posthumously published article alleged mafia infiltration of his government.
Bela Bugar, the head of the junior coalition party Most-Hid, which holds three ministries in
Putin promised to increase the size of the economy by 50% in his next term of office.
case for the likely policies that will dominate
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But no-one was expecting the multimedia presen-
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Interior Minister Robert Kalinak has been attacked for his alleged links
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Fico’s government, called for the resignation of Interior Minister Robert Kalinak, who has been under fire over a separate tax fraud scandal, the Basternak affair. Most-Hid argues only a new interior minister can investigate Kuciak’s
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