No. 26/68/DKom
The position of reserve assets in Indonesia remained high at the end of March 2024, totalling USD140,4 billion, despite retreating from USD144,0 billion at the end of February 2024. The decline was influenced by several factors, including the government's external debt payments, anticipation of corporate liquidity needs, and the need for Rupiah stabilisation in line with persistently high global financial market uncertainty. The position of reserve assets is equivalent to 6.4 months of imports or 6.2 months of imports and servicing government's external debt, which is well above the international adequacy standard of around three months of imports. Bank Indonesia considers that the current level of reserve assets is able to support external sector resilience as well as maintain macroeconomic and financial system stability.
Moving forward, Bank Indonesia views that reserve assets will remain ample, supported by stability and a maintained national economic outlook, in line with the synergy of policy mix responses between Bank Indonesia and the Government to preserve macroeconomic and financial system stability to bolster sustainable economic growth.
Jakarta 5th April 2024
Communication Department
Erwin Haryono
Governor Assistant