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Friday, 22 Mar 2019

BI reported that Indonesia's foreign debt rose up to 5,3 percents, still under control

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News24xx.com - At the end of October 2018, Indonesia's foreign debt (ULN) rose up to 5.3 percent, and the total at that time is IDR 5,227 trillion, this is equivalent to USD 360.5 billion. This is a report from Bank Indonesia which was reported on Wednesday, December 19th 2018.

 

From before, in September there is an increase of 0.19 percent. The total external debt in September is USD359.7 billion.



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"Indonesia's foreign debt at the end of October 2018 consists of government and central bank debt of USD 178.3 billion, and private debt including state-owned enterprises amounting to USD 182.2 billion" wrote the Central Bank in Indonesia's Foreign Debt Statistics.

 

The details written by Bank Indonesia on Indonesia's external debt reached USD 175.4 billion, up 3.3 percent (yoy), while central bank external debt reached USD 2.9 billion. Private external debt, including state-owned enterprises, reached USD182.2 billion, up 7.7 percent (yoy), until the end of October 2018. The private external debt consisted of bank financial institutions amounting to USD 32.5 billion and non-bank financial institutions amounting to USD 10 billion.



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Whereas for debtors not financial institutions, it is USD139.6 billion. Private external debt in October 2018 grew by 7.7 percent (yoy), an increase of 1 percent from the previous month.

 

In the private sector this was driven by the growth of external debt in the electricity, gas, steam / hot water (LGA) sector. Most of the private external debt is owned by the financial and insurance services sector, manufacturing industry sector, LGA sector, and the mining and quarrying sector.

 

Even so, BI concludes that the development of Indonesia's external debt throughout 2018 is still safely controlled, as well as a healthy improvement structure. This refers to the ratio of Indonesia's external debt to gross domestic product (GDP) which is around 34 percent at the end of September 2018.

 

According to Law No. 17 of 2003 the maximum lower limit is 60 percent of GDP. And the growth ratio is said to be still better than the average of countries with similar economic capacity. And also because Indonesia's external debt structure is still dominated by long-term external debt which has a share of 86.9 percent of total external debt.

 

 

 

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