Jakarta: The external debt at the end of the first quarter of 2021 was recorded at USD415.6 billion, down 0.4% (qtq) from USD417.5 billion at the end of the fourt quarter of 2020, according to Bank Indonesia (BI).
"The decrease was driven by the declining position of Government's external debt." said BI Communication Department Head Erwin Haryono in a press release on Friday.
Annually, the external debt position in Q1/2021 grew 7.0% (yoy), higher than 3.5% (yoy) in the previous quarter.
"The structure of Indonesia's external debt remained healthy, supported by the prudential principle application in its management," he stated.
Indonesia's external debt in Q1/2021 is manageable as reflected in the maintained ratio of Indonesia's external debt to Gross Domestic Product (GDP) at around 39.1%, lower than 39.4% in the last quarter.
In addition, the structure of Indonesia's external debt remained healthy which was indicated by the domination of long-term maturity debt with an 89.0% share of total external debt.
"In close coordination with the government, Bank Indonesia continues to monitor external debt by promoting the prudential principle application in its management to maintain a solid external debt structure," he stated.
"External debt's role will also be optimized to support development financing and stimulate economic recovery by minimizing the risks that may affect macroeconomic stability," he added.
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