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Southeast Europe
August 17, 2018 www.intellinews.com I Page 19
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 re- pay 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 Octo- ber 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.
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.