Jakarta: Indonesia’s official reserve assets remained high at USD141.3 billion as of end-January 2022, despite lower than USD144.9 billion as of end-December 2021.
"The decline of official reserve assets in January 2022 was influenced, amongst others, by the obligation of government’s external debt payments and banks’ foreign currency placement reduction in Bank Indonesia (BI) to anticipate foreign exchange liquidity needs in line with economic activity improvement," BI Communication Department Head Erwin Haryono said in a press release on Tuesday.
The position of official reserve assets was equivalent to finance 7.6 months of imports or 7.4 months of imports and servicing government’s external debt, and well above the international adequacy standard of three months imports.
"Bank Indonesia considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability," he added.
"Moving forward, Bank Indonesia views that the official reserve assets remain adequate, supported by the stability and solid domestic economic outlook, in line with the policy responses to stimulate economic recovery," he concluded.
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