Indonesia's External Debt Down to $390.2 Billion in October 2022: BI

Jakarta: Indonesia's external debt position recorded a further decrease in October 2022, according to Bank Indonesia (BI).
 
At the end of the reporting period, the position of external debt in Indonesia stood at USD390.2 billion, down from USD395.2 billion in September 2022. 
 
The latest developments stemmed from lower debt positions recorded in the public sector (Government and Central Bank) and private sector. 

Annually, the external debt position contracting 7.6% (yoy) in October 2022, deeper than a 6.8% (yoy) contraction in the the month earlier.
 
"Government external debt maintained a downward trend in October 2022. Since March 2022, the position and growth of government external debt have maintained consistent downward trends," BI Communication Department Executive Director Erwin Haryono said in a press release on Thursday.
 
The position of government external debt decreased to USD179.7 billion in October 2022 from USD182.3 billion one month earlier. 
 
Annually, government external debt recorded a deeper 12.3% (yoy) contraction after contracting 11.3% (yoy) in the previous period. 
 
"Private external debt also maintained a downward trend," he stated.
 
The position of private external debt decreased to USD202.2 billion in October 2022 from USD204.7 billion the month earlier. 
 
Annually, private external debt experienced a deeper 3.0% (yoy) contraction in the reporting period after declining 2.2% (yoy) in September 2022. 
 
"The structure of external debt in Indonesia remains sound, supported by prudential management," he stated.
 
External debt was still manageable in October 2022, as reflected by a lower ratio of external debt to gross domestic product (GDP) from 30.1% in the previous period to 29.6%. 
 
In addition, the sound structure of external debt in Indonesia is dominated by long-term debt, accounting for 87.1% of total external debt. 
 
"Seeking to maintain a healthy structure, Bank Indonesia and the Government continued to strengthen coordination in terms of monitoring external debt, supported by the application of prudential principles, while optimising the role of external debt to support development financing and accelerate the national economic recovery, as well as minimise the risks that could impact economic stability," he concluded.
 
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