Jakarta: Indonesia’s official reserve assets position remained high at USD132.2 billion as of end-July 2022, despite declining from USD136.4 billion as of end-June 2022, Bank Indonesia (BI) has said.
According to the central bank, the decrease of official reserve assets position in July 2022 was influenced, amongst others, by the payment of Government’s external debt and the need for Rupiah stabilisation in line with persistently elevated global financial market uncertainty.
"The position of official reserve assets was equivalent to finance 6.2 months of imports or 6.1 months of imports and servicing government’s external debt," BI Communication Department Head Erwin Haryono said in a press release on Friday.
"Well above the international adequacy standard of three months imports," he added.
BI believes the official reserve assets position ample to support the external resilience and maintain macroeconomic and financial system stability.
Moving forward, BI views that the official reserve assets remain adequate, supported by the stability and solid domestic economic outlook, in line with the policy responses to maintain macroeconomic and financial system stability and to support the national economic recovery process.
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