Indonesia’s foreign debt stood at US$347.3 billion in November last year, growing by 9.1 percent year-on-year (yoy), according to Bank Indonesia’s (BI) report.
The central bank revealed that debts in the private and public sectors were recorded at $170.6 billion and $176.6 billion respectively.
The bank, however, considers the foreign debt to still be at a controllable level as 85.7 percent of it is long-term debt, while short-term debt is at 14.3 percent. BI added that long-term debt grew by 7.5 percent, while short-term debt grew by 19.8 percent yoy.
“[BI] continues to monitor the development of foreign debts from time to time to ensure that it takes a maximum role in supporting the development without creating risks that could affect economic stability,” said BI spokesman Agusman in a statement.
The latest figure brought Indonesia’s debt-to-gross domestic product (GDP) ratio to around 34 percent, which according to the central bank remains lower than in the peer countries.
The foreign debts in November were concentrated in the financial sector, manufacturing industry, electricity, gas, clean water and mining sectors, garnering 77 percent of foreign debts in private sector between them.
The shares from the six sectors increased from 76.9 percent from the figure recorded in the previous month, data from BI revealed. (bbn, Marchio Irfan Gorbiano, The Jakarta Post)