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Indonesia’s Remaining Debt to China After Jokowi’s Payment Has Dropped A Lot?

Jakarta, CNBC Indonesia Bank Indonesia reported that Indonesia’s foreign debt (ULN) in May fell US$ 3.8 billion from the previous month to US$ 406.3 billion or around Rp 6,094 trillion (BI July 14 middle rate Rp 14,999/US$). When compared to May 2021, the external debt contracted 2.6% year-on-year (yoy).

Government debt itself recorded a decline in 3 consecutive months. Thus, the current government debt is US$ 188.2 billion.

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“The position of the Government’s external debt in May 2022 was recorded at 188.2 billion US dollars, down from the previous month’s external debt of 190.5 billion US dollars. Annually, the Government’s external debt contracted by 7.5% (yoy), deeper compared to the previous month’s contraction of 7.3% (yoy),” wrote BI in an official release quoted on Sunday (31/7/2022).

On a country-by-country basis, the majority of Indonesia’s debt was also reported to have decreased. Only debt to Hong Kong has at least increased.

Meanwhile, debt to Singapore, for example, decreased for 3 consecutive months and debt to Japan fell for 2 consecutive months. Meanwhile, debt to the US, which soared and scored a record high in April, decreased by US$ 34 million, to US$ 34,864 billion.

In addition, Indonesia’s debt to China also decreased. Last May, the value of debt to China was US$ 21.779 billion or Rp 326.7 trillion, down around Rp 2.9 trillion from the previous year. Of the total debt to China, government debt is only US$ 1.58 billion, while private debt is US$ 20.19 billion.

Meanwhile, the private sector also experienced a decline. After experiencing an increase of up to US$ 3.5 billion in April, private external debt in May finally experienced a decline of US$ 1.5 billion.

[Gambas:Video CNBC]

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