Central Bank: Indonesia's Foreign Debt at Rp6,230tn
Translator
Editor
16 January 2024 11:38 WIB
TEMPO.CO, Jakarta - Bank Indonesia (BI) recorded the country's foreign debt as of November 2023 stood at US$400.9 billion or Rp6,230 trillion, a two-percent year-on-year increase. The central bank said that the foreign debt position remains under control.
"The expansion of foreign loans was mainly caused by public sector's external debt transactions," BI Assistant Governor Erwin Haryono said in an official statement Monday, January 15.
He said that Indonesia's maintained foreign debt in November 2023 can be seen from the ratio of external debt to Gross Domestic Product (GDP) of 29.3 percent. Another indication is the dominance of long-term foreign debt, which accounted for 87.1 percent of the total.
"The position of government foreign debt is relatively safe and under control considering that almost all external debt has long-term tenors with a share of 99.8 percent of the total government external debt," said Erwin.
On a monthly basis, November 2023's foreign debt position stood at US$192.6 billion, up by 6 percent yoy, which is higher than the previous month's growth rate of 3 percent yoy.
Bank Indonesia also recorded the private sector's foreign debt in November 2023 of US$196.2 billion or around Rp3,050 trillion. The figure reflected a decline of 3.2 percent yoy, deeper than the previous month's contraction of 2.3 percent yoy.
Erwin said that the growth contraction of privates' foreign debt came from both financial corporations and non-financial corporations, which experienced a contraction of 6.1 percent yoy and 2.5 percent yoy respectively.
"Based on the economic sector, the private sector's biggest foreign debts were from the processing industry; financial services and insurance industry; electricity, gas, steam/hot water and cold air procurement; as well as mining and quarrying, which made up of 78.6 percent of the total debt."
Erwin said that private sector's foreign debt was still dominated by long-term loans which accounted for 75.5 percent of the total debt.
TEMPO.CO
Editor's Choice: 10 Countries with the Highest IQ Scores in the World
Click here to get the latest news updates from Tempo on Google News
