TEMPO.CO, Jakarta - Bank Indonesia (BI) noted that Indonesia's foreign debt stood at US$411.5 billion at the end of Q1/2022. The value is lower compared to the previous quarter when it reached US$415.7 billion.

"This was due to the declines in foreign debts owed by the public sector (the government's and the central bank's) as well as the private sector," BI chief of communications Erwin Haryono said on May 19.

The government's foreign debt in Q1/2022 stood at US$196.2 billion, down from Q4/2021's US$200.2 billion.

"The decline occurred in line with the maturity of several Government Securities (SBN)—both domestic SBN and foreign currency SBN, as well as the net repayment of maturing loans from January to March 2022; most of which were bilateral loans," he said.

Meanwhile, privates' foreign debt in Q1/2022 was recorded at US$206.4 billion, down from the previous quarter's US$206.5 billion in the fourth quarter of 2021.

On a year-on-year basis, Q1's foreign debt amount was contracted by 1.1 percent, a bigger decline compared to Q4/2021's 0.3 percent (yoy) contraction.

Indonesia's foreign debt-to-GDP ratio is currently 33.7 percent, a decline from the previous quarter's 35.0 percent.

Click here to get the latest news updates from Tempo on Google News

Muhammad Hendartyo