The outstanding short and long-term debt of Turkey’s private sector fell in February, the country’s Central Bank said on Thursday.

The private sector’s short-term overseas loans, excluding trade credits, were $7.7 billion in February, down by $1.4 billion compared to the end of 2019.

Meanwhile, liabilities of financial institutions were 75.9% of all short-term loans, according to the bank.

A major chunk of the short-term credit, 42.2%, was in U.S. dollars while the rest were in euros (33.1%), Turkish liras (24.1%) and other currencies (0.6%).

On the long-term side, the private sector’s external loans totaled $177.9 billion as of

Read more: Turkey: Private sector foreign debt down in February