Jakarta: Indonesia’s official reserve assets remained high at USD135.7 billion as of end-April 2022, despite lower than USD139.1 billion as of end-March 2022, according to Bank Indonesia (BI).
"The decrease of official reserve assets in April 2022 was influenced, amongst others, by the obligation of government external debt repayments and anticipation of the foreign currency liquidity needs in line with economic activity improvement," BI Communication Department Head Erwin Haryono said in a press release on Friday.
The position of official reserve assets was equivalent to finance 6.9 months of imports or 6.7 months of imports and servicing government’s external debt.
The position of official reserve assets was well above the international adequacy standard of three months imports.
"Bank Indonesia considers the official reserve assets position ample to support the external resilience and maintain macroeconomic and financial system stability," he stated.
"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 added.