Nia Deviyana
IDXChannel - Indonesia's external debt remained manageable in the first quarter of 2023. The position of external debt in Indonesia at the end of the first quarter of 2023 was recorded at USD402.8 billion.
It contracted 1.9% (yoy) after recording a 4.1% (yoy) contraction in the previous quarter. The contraction stemmed from the public sector (Government and Central Bank) as well as the private sector.
The external debt position recorded in the first quarter of 2023 was also influenced by change factors driven by broad-based US Dollar depreciation against most global currencies, including the Rupiah.
Government external debt continued to track a contractionary trend. In the first quarter of 2023, government external debt experienced a shallower 1.1% (yoy) contraction to USD194.0 billion after declining 6.8% (yoy) in the previous period.
The latest developments were driven by portfolio investment placements in the domestic government securities (SBN) market in response to sustained positive global market sentiment. In addition, the Government also recorded a net withdrawal of multilateral foreign loans to finance various programs and projects.
