Michelle Natalia
IDXChannel - The position of external debt in Indonesia declined in May 2023, compared from the previous period, according to Bank Indonesia (BI).
At the end of May 2023, the position of external debt in Indonesia stood at USD398 billion, down from USD403 billion in April 2023.
"Annually, therefore, the external debt position in Indonesia experienced a deeper 1.7% (yoy) contraction compared with a 1.3% (yoy) contraction recorded one month earlier. The contraction primarily stemmed from a lower private external debt position," said BI Communication Department Executive Director Erwin Haryono in a media release on Monday (17/7/2023).
Government external debt declined from the previous period. At the end of May 2023, government external debt was recorded at USD192 billion, down from USD194 billion in April 2023, or growing 2.3% (yoy) annually.
"This was driven by a net payment on government's foreign loans and several series of maturing domestic government securities (SBN). The Government remains firmly committed to maintaining prudential, efficient and accountable external debt management, as well as preserving credibility in servicing principal and interest payments promptly," he stated.
