Foreign debt of Turkey’s Central Bank increases 76 times in six years
The external debt of the Central Bank (MB) to foreign banks, including other central banks, has exceeded $ 45 billion.
The government tried to slow down the depreciation of the TL with the ‘backdoor’ sales of the Central Bank (MB). This, in turn, caused the reserves to melt down.
In 2017, MB’s swap debt to foreign central banks was $0.6 billion, while it had no warehouse debt to foreign banks.
in 2023, MB’s swap debt increased to $ 23.7 billion and warehouse debt increased to $ 22.6 billion. The total debt has increased from $ 0.6 billion to $ 46.3 billion in six years. In other words, the external debt of the MB has increased by 77 times in six years.
