Arnoldus Kristianus, Jakarta – The Indonesian government and private sector owed foreign creditors $427.5 billion as of the end of January, up from $424.8 billion in the previous month, Bank Indonesia announced on Monday.

The latest foreign debt figures increased 5.1 percent compared to the same month last year.

Bank Indonesia spokesman Ramdan Denny Prakoso said the overseas debt-to-the gross domestic product ratio was 30.3 percent.

The government's foreign debt stood at $204.8 billion in January, representing a 5.3 percent year-on-year rise. The debt was allocated for the healthcare sector (22.6 percent); defense, social security, and government administration (17.8 percent); education (16.6 percent); construction (12.1 percent); and financial and insurance services (8.2 percent), Ramdan said in a statement.

"The government's overseas debt position remains manageable because long-term debt made up 99.9 percent of overall debt," Ramdan said.

Source: https://jakartaglobe.id/business/indonesias-foreign-debt-totals-4275-billio