Jakarta, CNBC Indonesia – Indonesia’s government debt to foreign countries or external debt is reported to have decreased. This is revealed from data presented by Bank Indonesia, Friday (15/7/2022).
Bank Indonesia (BI) reported that May’s external debt fell by US$ 3.8 billion from the previous month to US$ 406.3 billion or around Rp. 6,094 trillion (BI July 14 middle rate of Rp. 14,999/US$). Compared to May 2021, the external debt contracted 2.6% year-on-year (yoy).
For government debt recorded a decline in 3 consecutive months. Currently, the debt which is the obligation of the government led by President Joko Widodo is US$ 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),” BI wrote in its official release.
On a country-by-country basis, Indonesia’s debt was also reported to have decreased in the majority. Only debt to Hong Kong has increased.
Debt to Singapore has decreased for 3 months in a row and debt to Japan has fallen for 2 months in a row. Debt to the US, which soared and hit a record high in April, decreased by US$34 million, to US$34,864 billion.
Not only to Singapore, Indonesia’s debt to China has also decreased. Last May, Jakarta’s debt to Beijing amounted to US$ 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.
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RI’s Foreign Debt Down, But Still Above Rp 6,000 T
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(RCI/dhf)
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