Macro Snapshot: Outstanding External Loans Received by Private Sector in March

In March, short term loans increased by USD815mn (trade credits increased by USD1.4bn)
whereas long term outstanding external loans decreased by USD2.9bn respectively in
comparison to the end of 2020. Private sector’s external loans to GDP ratio was 31.8% according to the latest figures (2020: 32%).

Regarding long-term loans, liabilities to private creditors excluding bonds amounted to
USD106.3bn, decreasing by USD3.2bn compared to the end of the previous year.

Share of USD loans in total at 62.1% (2020: 60.8%). USD1bn added to April redemptions in comparison to the previous report.

The cumulative share of top 5 creditors is at 67.1%.

Despite the trade credits increased by USD0.4bn in comparison to end of 2020, financial sectors’ short term debt decreased by USD537mn (banks’ decreased by USD395mn)
at the same period. Accordingly, total short term loans decreased by USD187mn in Q1.

The cumulative share of top 5 creditors is at 43.8%.

The planned redemption until 12months constitutes 20.5% of the LT debt stock as of March 2021.

LT loans belongs to financial sector decreased by USD1.6bn and non- financial sector’s LT loans decreased by USD1.2bn (mainly driven by manufacturing) in comparison the end of 2020.


Source: Y. F. Securities