Saturday, 14 December 2019

Indonesia`s Foreign Debt Rises 4.8 Percent

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  • Logo of Indonesia's central bank, Bank Indonesia. REUTERS

    Logo of Indonesia's central bank, Bank Indonesia. REUTERS

    TEMPO.CO, Jakarta - Indonesia`s foreign debt annually increased as much as 4.8 percent by the end of October 2017 into US$341.5 billion as it is pushed by rising private and public debts.

    Foreign debt (ULN) of private sector went up 1.3 percent (year-on-year) on October 2017 adding up to US$168.3 billion. The increase is still the same as that of September 2017, based on Foreign Debt Statistics published by Bank Indonesia in Jakarta on Saturday, Dec. 16.

    The foreign debt of the private sector in October 2017 is concentrated on the segments of finance, processing industry, electricity, gas, clean water (LGA) and also mining.

    "The four segments of foreign debt against the total of foreign debts of private sector reached 77 percent, relatively similar to that of the previous month and that of the same period in 2016," BI wrote in their statistics.

    Meanwhile, foreign debt of public sector rose 8.4 percent (yoy) with U$173.2 billion. The increase is lower than that of September 2017 with 8.5 percent (yoy).

    Furthermore, based on the term of debt, the structure of Indonesia foreign debt is dominated by long-term debt with 86.3 percent of the total foreign debt and by the end of October 2017, or in other words, it rose 3.9 percent (yoy) with US$294.8 billion.

    Meanwhile, short-term foreign debt rose 10.6 percent (yoy) with US$46.6 billion.

    "BI considers the development of foreign debt in October 2017 is still under control. It is reflected among others from the ratio of Indonesia foreign debt on gross domestic product (PDB) at the end of October 2017 recorded stable at around 34 percent," BI stated.

    ANTARA