No.23/229/DKom
Indonesia’s official reserve assets stood at USD144.8 billion as of end-August 2021,
increased from USD137.3
billion as of end-July 2021. The position of official reserve assets was
equivalent to finance 9.1
months of imports or 8.7 months
of imports and servicing goveranment’s
external debt, and well above the international adequacy standard of
three months imports. Bank Indonesia considers that the official reserve assets
position was able to support the external sector resilience and maintain
macroeconomic and financial system stability.
The increase of official reserve assets in August
2021 was mainly due to the additional IMF Special Drawing Rights (SDR)[1]
allocation of 4.46 billion SDR or equivalent to 6.31 billion US dollars to
Indonesia. In 2021, the IMF raises the
SDR allocation and distributes it
to all member countries, including Indonesia, in
proportion to their respective quotas. The general SDR
allocation is aimed to
support global economic resilience and stability affected
by the Covid-19 pandemics, build confidence, as
well as strengthen global reserves.
The allocation of SDRs was
distributed to IMF member countries at no cost.
Moving forward, Bank Indonesia views that the official
reserve assets remain adequate, supported by the stability and solid domestic
economic outlook, in line with the policy responses to stimulate economic
recovery.
Jakarta, 7th
September 2021
Head
of Communication Department
Erwin
Haryono
Executive Director
[1] The SDR is an international reserve asset created by the IMF and can
be used for financial transactions between - member countries