Opposition Alliance Calls for Snap Election, ST External Debt Rises to $124.4bn

LOCAL NEWS

• Opposition repeat calls for snap elections with CHP & IYI leaders making statements to the press that Erdogan can no longer govern. Kilicdaroglu said the CBRT had been robbed of its dignity and that Erdogan was placing a burden on Turkish people by intervening in monetary policy.
  • IYI's Aksener said the CHP & IYI would work together from today onwards RE the economy, saying "there is no cure but an election"
• US readout of the high-level Defense Group meeting says issues centred around terrorism, Afghanistan, the East Med and cooperation on the Black Sea.
  • Pentagon also showed interest in increasing longstanding defense ties, agreeing to another follow-up meeting
• Turkey Short-term external debt stock reaches $124.4bn as of end-September according to the CBRT on 17 Nov. Debt due in 12 months increased 1.2% to $58bn, while the figure for other sectors climbed 15.1% to $40bn and the remaining $25.5bn belonged to the central bank.
  • Banks' short term FX loans fell 5.6% to $12.8bn: 42.8% in USD, 25.1% in EUR & 13% in TRY. Bank's short-term public sector debt rose 10.3% to $25.6bn, while private sector debt rose 5.3% to $73.3bn from end-2020