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Indonesia foreign debts reach US$323.8b at end June


Photo by Cabinet Secretary

JAKARTA (TheInsiderStories) – Indonesia’s foreign debt stood at US$323.8 billion at end of June, or up 6.2 percent from end June last year, the central bank, Bank Indonesia announced. The debts represent 36.8 percent of the country’s gross domestic product (GDP), up slightly from 36.6 percent at end of March.

Of this, long-term debts grew by 7.7 percent year-on-year to US$282.3 billion or 87.2 percent of total foreign debts, while short-term debts declined by 3.1 percent year-on-year to US$41.5 billion or 12.8 percent of total foreign debts.

The short-term foreign debts represent 37.8 of the country’s foreign exchange reserves in the quarter.

Of the total foreign debts, public or government debts reached US$158.7 billion or 49 percent of total foreign debts, while private sector debts stood at US$165.1 billion or 51 percent of total foreign debts.

The government’s foreign debts grew 17.9 percent year on year in second quarter, compared to 14 percent in first quarter. Private sector foreign debts declined by 3.1 percent.

Based on sectoral debts, large portion of private sector debts were contributed by finance, processing industry, mining, electricity, gas and clean water. These sectors’ foreign debts represent 75.9 percent of total foreign debts.

Bank  Indonesia said Indonesia’s foreign debts at end of second quarter is still at “quite healthy” level, however, the authorities continue to monitor the debts progress to avoid risks to the national  economy. The central bank also continues to monitor private sector debts to ensure that the debts are used properly. (*)

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Source: The Insiderstories
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