Indonesia's Foreign Debt Down to US$397.4bn in August – English

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TEMPO.CO, Jakarta – Bank Indonesia or BI announced that Indonesia’s external debt had declined again in August 2022. At the end of August, foreign debt stood at US$397.4 billion, down 4.1 percent from July’s US$400.2 billion.
In a press release published Monday, October 17, BI spokesman Junanto Herdiawan said that on a year-on-year (yoy) basis, August’s foreign debt is down by 6.5 percent.
For government’s foreign debt, Junanto said, the amount in August was, US$184.9 billion, down 9.9 percent from the previous month and 10.9 percent lower on a year-on-year basis.
“The decline in the government’s external debt was attributed to decreased loans and higher repayments compared to loan withdrawals to finance priority programs and projects,” he said.
Meanwhile, the private sector’s external debt in August was recorded at US$204.1 billion, down by 1.2 percent from July and lower by 2.0 percent, year on year.
Overall, Indonesia’s foreign debt structure, based on the central bank’s assessment, remains healthy. This is reflected in the country’s debt-to-GDP ratio, which was maintained at around 30.4 percent, inching down from the previous month’s 30.7 percent.
“In addition, the structure of Indonesia’s external debt remains healthy, as indicated by Indonesia’s external debt which remains dominated by long-term external debts that accounted for 87.1 percent of total external debt,” Junanto said.
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Indonesia’s debt at the end of August reached a total of Rp7,236.61 trillion, which is a 1.01 percent bump compared to July.
SOE Minister BUMN Erick states that the amount of PLN’s debt has declined.
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.
Indonesia’s foreign debt by the end of the second quarter (Q2) amounted to 403 US dollars, which is a reduction compared to the previous quarter.
Minister Luhut Pandjaitan claims that Indonesia’s foreign debt is among the smallest compared to other countries.
Finance Minister Sri Mulyani claims Indonesia’s debt to GDP ratio is much preferable compared to developed countries and G20 peer members’.
Garuda Indonesia to gradually increase the frequency of flights following the completion of the PKPU homologation.
Boeing did not participate in Garuda Indonesia’s Suspension of Debt Payment Obligations (PKPU) voting process on Friday.
Bank Indonesia (BI) records the nation’s foreign debt at US$409.5 billion at the end of April 2022, a decline from March’s US$412.1 billion.
Indonesia’s foreign debt-to-GDP ratio is currently 33.7 percent, a decline from the previous quarter’s 35.0 percent.


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