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Indonesia's foreign debt drops to Rp5,964tn per July

Tempo - September 15, 2022

Jakarta – Bank Indonesia or BI recorded the country's foreign debt position at US$400.4 billion, or around Rp5,964 trillion, at the end of July 2022. The volume is down from the previous month's US$403.6 billion or around Rp6.012 trillion.

On a year-on year basis, the foreign debt in July was down by 4.1 percent, a deeper contraction than June's 3.2 percent (yoy).

"This development was caused by a decline in external debt from the public sector (Government and Central Bank) as well as the private sector," the central bank's head of communications Erwin Haryono said in a written statement, Thursday, September 15.

Indonesia's foreign debt to GDP ratio in July was in the range of 30.7 percent, a decrease from June's 31.8 percent.

The external debt was still dominated by long-term debt, with 86.8 percent of the total.

Based on category, government debt stood at US$185.6 billion, down from the previous month's US$187.3 billion. Meanwhile, the portion of private companies' foreign debt was US$206.3 billion.

Annually, the government's foreign debt in July was down by 9.9 percent, while privates' debt was down by 1.2 percent.

Source: https://en.tempo.co/read/1634561/indonesias-foreign-debt-drops-to-rp5964tn-per-jul