In the process of shrinkage in economy and slowdown in resource input, the private sector is having a serious problem of possibility of rate risks considering the level of short-term and loaded debt. In the market conditions, which the uncertainties continue regarding the economic crisis and future obscurities, Turkey’s, which has its debts in the hand of private sector, short term foreign stock reached over 100 billion dollars by the end of August, 2012. The majority of this is comprised by private sector’s usage, and the foreign debt service that should be completed in the coming 1 year without considering the original maturity is 143.3 billion dollars. The majority of the stock and the short term foreign debt service belong to private sector in Turkey. Due to the instabilities in global economy, shrinkage in Turkey’s economy, and the slowdown in foreign resources input; short term debt stock and the loaded amount of foreign debt service that must be completed in the upcoming year creates a great rate risk for private sector.
90.2 billion dollars of it is private sector’s debt
By the end of August, the majority of the stock, which is 90 billion 151 million dollars, is formed of short term foreign debts belonging to private sector. 56 billion 545 million dollars of it is on banks; 2 billion 219 million dollars is on non-banking finance institutions, and 31 billion 606 million dollars of it is on non-financial real sector companies. During the first 8 months of 2012, Turkey’s private sector’s short term foreign debt grew by 20%. In this scope, the fastest increase was realized in private banks’ debt with 23.7%. The short term foreign debt of non-banking finance institutions increased 6.6%, and the real sector companies’ debt increased 14.9%.
All of it belonging to public banks, public’s short term foreign debt stock reached over 10 billion dollars with 47.5% increase. In the same period, the Turkish Central Bank’s short term foreign debt shrank by 12.8% and regressed to 1 billion 107 million dollars. 143.3 billion dollars will be paid back in 1 year.
Of the 143.3 billion dollars foreign debt service of Turkey, the emphasis is on private sector with 123 billion 515 million dollars. During the period, private banks need to pay 62 billion 446 million dollars, and non-banking finance institutions must pay 8 billion 489 million dollars back. The payback that non-financial private sector companies will realize in 1 year is 52 billion 580 million dollars. In 1 year, there will be 15 billion 644 million dollars of foreign debt payback in public sector in Turkey. 4 billion 566 million dollars of it is centralized management, 425 million dollars is local governments, 6 million dollars is funds, which is totally 4 billion 997 million dollars general management. The foreign debt service that Turkish Central Bank needs to realize in 1 year is 4 billion 176 million dollars.
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