External barrowing has a special position in economy of a country in terms of both its structure and reasons of taking. For this reason, that external sources which are transferred into economy via external barrowing during political decision making process should be used effectively and efficiently requires importance. In this sense, the aim of this research is to evaluate the possible effects of external loans on economies of the countries and to explain the sustainability of external loans in Turkey with the help of analysis of cointegration based on time series. In this regard, as a result of analysis and methods which is the framework of the model proposed by Sawada and Hakkio & Rush used in study, it has been concluded that provided the ability to repay foreign debt condition, between the years of 1980-2010 in Turkey's economy.