Michelle Natalia
IDXChannel - The position of external debt in Indonesia maintained a 0.9% (yoy) contraction to reach USD396.4 billion in July 2023 after retreating 1.5% (yoy) the month earlier. The contraction stemmed from private external debt.
"The position of external debt in July 2023 was also influenced by broad-based US Dollar depreciation against most global currencies," Bank Indonesia (BI) Communication Department Executive Director Erwin Haryono said in a media release on Friday (15/9/2023).
In July 2023, the position of government external debt stood at USD193.2 billion, with annual growth accelerating to 4.1% (yoy) from 2.8% (yoy) in the previous period.
"This was driven, among others, by foreign loans withdrawal to support program and project financing," he stated.
According to him, 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.
