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3/15/2024 12:00 AM
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Indonesia's External Debt Declined in January 2024

Government Press Release

No. 26/48/DKom

Indonesia's external debt declined in January 2024. The position of external debt in Indonesia in January 2024 was recorded at USD405.7 billion, a decline from December 2003 position which stood at USD408.1 billion. Annually, Indonesia's external debt grew by 0.04% (yoy) in the reporting period, moderating from 2.9% (yoy) the month earlier. The lower external debt position stemmed from both the public and private sectors.

Government external debt experienced a decline.  The position of government external debt in January 2024 stood at USD194.4 billion, retreating from USD196.6 billion in the previous period.  Annually, government external debt grew by 0.1% (yoy) in the reporting period, moderating from 5.4% (yoy) the month earlier. The lower position of government external debt was influenced, amongst other factors, by repayments on maturing government securities (SBN). Meanwhile, the Government remains firmly committed to preserving credibility in servicing principal and interest payments promptly, as well as maintaining prudential, efficient and accountable external debt management. External debt is still focused on supporting government efforts to finance priority expenditures, as well as social protection programs against a backdrop of persistently high global financial market uncertainty. External debt support in the reporting period was oriented towards human health and social activities (21.1% of total government external debt); public administration, defence and compulsory social security (18.0%); education (16.9%); construction (13.7%); as well as insurance and financial services (9.7%), among others.  The current position of government external debt is considered safe and manageable, with nearly all, or 99.9% of total government external debt, dominated by long-term maturities.

Private external debt continued to track a contractionary trend. The position of private external debt was recorded at USD196.7 billion in January 2024, decreasing from USD198.1 billion the month earlier.  Annually, the position of private external debt experienced a deeper contraction of 2.6% (yoy) in the reporting period, compared with a 1.4% (yoy) contraction in December 2023. The decline stemmed from external debt at financial corporations and non-financial corporations, which recorded 3.2% (yoy) and 2.4% (yoy) contractions respectively.  By sector, the main contributors to private external debt in the reporting period were the manufacturing industry; insurance and financial services; electricity, gas, steam and air conditioning supply; as well as mining and quarrying, collectively accounting for 78.6% of total private external debt. Furthermore, 76.1% of total private external debt was dominated by long-term tenors.

The structure of external debt in Indonesia remains sound, supported by prudential management. Such developments were reflected in a lower ratio of external debt to gross domestic product (GDP) from 29.7% to 29.4%, with long-term debt dominating, accounting for 86.9% of total external debt. To maintain a healthy structure, Bank Indonesia and the Government will continue strengthening inter-agency coordination to monitor external debt developments and implementing prudential external debt management principles. The function of external debt will also be optimised to support development financing and nurture sustainable economic growth nationally by minimising the risks that could disrupt economic stability.

The latest external debt data and metadata are presented in the publication of ​Indonesia's External Debt Statistics (SULNI​) March 2024 edition on the Bank Indonesia website. This publication can also be accessed through the Ministry of Finance website.

 Jakarta 15th March 2024​

Communication Department

Erwin Haryono

Governor Assistant

Lampiran
Kontak
Contact Center BICARA : (62 21) 131

E-mail : bicara@bi.go.id
​​​​Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time

Halaman ini terakhir diperbarui 3/20/2024 9:00 PM
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