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at the date of disbursement which is planned to be before September 2020,” the statement explained.
Ford Otosan is a joint venture between local conglomerate Koc and global carmaker Ford.
The Turkish central bank ​said​ on July 20 that Turkey’s external debt maturing in a year or less stood at $169.5bn at end-May, up nearly $5bn month on month.
Public sector debt accounted for 23.2% of the total stock, the central bank made up 11.4% and the private sector 65.4%, the regulator added.
Short-term external loans used by banks declined by 5.8% to $7.3bn in the first five months of this year, the central bank also said. Short-term debt of state banks rose 2.6% to $25.7bn in the period. The private sector's short-term external debt fell 13% to $78.4bn.
37​ TURKEY Country Report​ August 2020 ​ ​www.intellinews.com