Turkey’s outstanding short-term foreign private sector debt dropped in September, the Central Bank of the Republic of Turkey (CBRT) said on Friday.

The private sector’s short-term external loans — excluding trade credits — totaled $11.9 billion, decreasing $3.5 billion since the end of last year.

Some 73.8% of all short-term loans consisted of liabilities of financial institutions, the bank’s data showed.

Some 52% of short-term credits were in U.S. dollars, while the rest were in euros (28.9%), Turkish liras (18.5%), and other currencies (0.6%).

On the long-term side, the private sector’s overseas loans amounted to $195.3 billion as of September,

Read more: Turkey: Private sector external debt down in September