Jakarta: Indonesia's external debt was recorded at USD417.5 billion at the fourth quarter of 2020 (Q4/20), consisting of public debt (Government and Central Bank) of USD209.2 billion and private debt (including state-owned enterprises) of USD208.3 billion.
Indonesia's external debt at the end of Q4/20 grew by 3.5% (yoy), lower than 3.9% (yoy) in the previous quarter, mainly stemming from the slowed growth of private's external debt.
At the end of Q4/20, the government's external debt was registered at USD206.4 billion or grew by 3.3% (yoy), higher compared with 1.6% (yoy) in Q3/20.
Such development was supported by maintained investor confidence, which prompted the foreign capital inflow in the Government Securities (SBN) market, as well as the partial withdrawal of the foreign loan commitment to support the handling of the Covid-19 pandemic and the National Economic Recovery program.
Meanwhile, the private sector's external debt grew by 3.8% (yoy), declining from 6.2% (yoy) in the previous quarter.
Such development was driven by a slowed growth of nonfinancial corporation external debt coupled with a deeper contraction of financial corporation external debt.
"Indonesia's external debt maintained a healthy structure supported by the prudential principle application in its management," said BI Communication Department Head Erwin Haryono in a press release on Monday.
The resilient structure of external debt was reflected in the maintained ratio of Indonesia's external debt to Gross Domestic Product (GDP) in Q4/2020 at 39.4%, albeit increasing from 38,1% in the last quarter.
Furthermore, the external debt was dominated by long-term debt, which accounted for 89.1% of the total external debt.
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