Michelle Natalia
IDXChannel - The position of external debt in Indonesia stood at USD400.1 billion at the end of February 2023, down from USD404.6 billion in the previous month, according to Bank Indonesia (BI).
“ The decrease stemmed from lower external debt positions recorded in the public sector (Government and Central Bank) as well as private sector. Annually, the external debt position in February 2023 experienced a 3.7% (yoy) contraction, deeper than a 2.0% (yoy) contraction recorded the month earlier,” BI Communication Department Executive Director Erwin Haryono said in a press release on Friday (14/4/2023).
Government external debt declined from the previous month. In February 2023, government external debt was recorded at USD192.3 billion, lower than the USD194.3 billion position in the previous period.
Annually, government external debt experienced a deeper 4.4% (yoy) contraction in February 2023 compared with a 2.5% (yoy) contraction in January 2023.
“This was driven by a rebalancing of non-resident investor asset placement in domestic government securities (SBN) given persistently high global financial market volatility. The Government remains firmly committed to preserving credibility in servicing principal and interest payments promptly, as well as maintaining prudential, credible and accountable external debt management,” he explained.
