No.28/78/DKom 

Indonesia's external debt remained manageable in February 2026. The position of external debt in Indonesia stood at USD437.9 billion in February 2026, increasing from USD434.9 billion in the previous month. On an annual basis, Indonesia's external debt grew by 2.5% (yoy) in February 2026, higher than 1.7% (yoy) in the preceding month. The latest developments were primarily driven by the public sector, particularly from the central bank, in line with foreign capital inflows into monetary instruments, namely Bank Indonesia Rupiah Securities (SRBI). Meanwhile, private external debt declined.

From public external debt, government external debt stood at USD215.9 billion in February 2026, or recorded annual growth of 5.5% (yoy), slightly lower than the 5.6% (yoy) in the previous month. The development in government external debt was mainly influenced by a lower outstanding amount of debt securities. By economic sector, the utilisation of government external debt was focused on supporting human health and social activities (22.0% of total government external debt); public administration, defence and compulsory social security (20.3%); education (16.2%); construction (11.6%); as well as transportation and storage (8.5%). The current state of government external debt is still dominated by long‑term tenors, accounting for 99.98% of total government external debt. Meanwhile, the increase in external debt at Bank Indonesia was driven by higher non‑resident holdings of monetary instruments issued by Bank Indonesia, in line with pro‑market monetary operations and ongoing efforts to stabilise the rupiah exchange rate amid heightened global uncertainty.

Private external debt stood at USD193.7 billion in February 2026 or declining 0.7% (yoy). Such developments were mainly driven by declining growth in the external debt of financial corporations and non‑financial corporations, which recorded at 2.8% (yoy) and 0.2% (yoy) respectively. By economic sector, the main contributors to private external debt were the manufacturing industry; financial and insurance services; electricity and gas supply; as well as mining and quarrying, collectively accounting for 80.3% of total private external debt. Moreover, private external debt was still dominated by long‑term maturities, accounting for 76.0% of total private external debt.

The structure of external debt in Indonesia financially stable, supported by prudent management. This was reflected in the ratio of external debt to gross domestic product (GDP), recorded at 29.8%, with long‑term debt dominating 84.9% of total external debt. Seeking to maintain a healthy structure, Bank Indonesia and the Government will continue strengthening coordination to monitor external debt developments. Furthermore, the role of external debt will continue to be optimised to support financing for development and promote sustainable national economic growth. Such efforts are undertaken by minimising the risks posed to economic stability.

The latest external debt data and metadata are presented in the publication of Indonesia's External Debt Statistics (SULNI), April 2026 edition, on the Bank Indonesia website. This publication is also open for public via the Ministry of Finance website.