Indonesia Foreign Debt at $347b

Indonesia’s foreign debt stood at $347.3 billion in November last year, growing by 9.1% year-on-year, according to Bank Indonesia report. The central bank revealed that debts in the private and public sectors were recorded at $170.6 billion and $176.6 billion respectively, Bernama reported. The bank, however, considers the foreign debt to still be at a controllable level as 85.7% of it is long-term debt, while short-term debt is at 14.3%. BI added that long-term debt grew by 7.5%, while short-term debt grew by 19.8% 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 ratio to around 34%, 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% of foreign debts in private sector between them.