Page 17 - TURKRptMay21

3.2.
Loans
-2,531
82
-805
-723
3.2.1.
Net acquisition of financial assets
118
-66
-309
-375
3.2.2.
Net incurrence of liabilities
-2,649
148
-496
-348
3.2.2.2.
Banks
-1,800
-72
-534
-606
3.2.2.2.2.
Long-term
-878
4
-626
-622
3.2.2.2.2.1.
Drawings
1,200
677
1,255
1,932
3.2.2.2.2.2.
Repayments
2,078
673
1,881
2,554
3.2.2.3.
General Government
38
-36
-141
-177
3.2.2.3.3.
Other long-term
38
-36
-141
-177
3.2.2.3.3.1.
Drawings
197
35
32
67
3.2.2.3.3.2.
Repayments
159
71
173
244
3.2.2.4.
Other Sectors
-887
256
179
435
3.2.2.4.2.
Long-term
-694
243
159
402
3.2.2.4.2.1.
Drawings
1,700
1,262
967
2,229
3.2.2.4.2.2.
Repayments
2,394
1,019
808
1,827
3.3.
Trade credit and advances
-1,055
-1,706
-272
-1,978
4
RESERVE ASSETS
66
3,570
925
4,495
IV -
NET ERRORS AND OMISSIONS
2,656
3,533
1,883
5,416
5.2 Capital flight dynamics
Foreign investors held $128bn of Turkish papers and lira swaps as of April 16 (see chart below).
However, do not expect that all of these papers will be disposed of in the coming days.
An unknown proportion of non-resident holders of Turkish papers are actually Turks—known as “moustaches” in the trade—who use foreign brokerage houses.
Also note that an unknown proportion of non-resident holders are long-term partners of the Turkish private and public sectors.
For instance, there are six Qataris who hold around 10% of the Turkish stock market, according to data from the Central Securities Depository of Turkey (MKK).
17 TURKEY Country Report May 2021 www.intellinews.com