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    Indonesia's Foreign Debt Increases to IDR 5,858 Trillion as of October 2020

    PasundanPost.com
    Rabu, 16 Desember 2020, 10:20 WIB Last Updated 2020-12-16T03:20:55Z
    Indonesia's Foreign Debt Increases to IDR 5,858 Trillion as of October 2020

    PASUNDAN POST ■ Bank Indonesia noted that Indonesia's External Debt (ULN) grew at a slower pace at the end of October 2020. The position of Indonesia's external debt in that period was recorded at US $ 413.4 billion or around Rp 5,858.29 trillion. This amount assumes an exchange rate of Rp. 14,171 per US dollar.

    Indonesia's foreign debt consists of public sector debt, namely the government and Central Bank amounting to US $ 202.6 billion and the private sector, including BUMN, amounting to US $ 210.8 billion.

    "With these developments, Indonesia's external debt growth at the end of October 2020 was recorded at 3.3 percent (year-on-year), down from the growth in the previous month of 3.8 percent (year-on-year), mainly influenced by the slowdown. Government external debt, "said Head of the Communication Department of Bank Indonesia Erwin Haryono in a written statement, Tuesday, December 15, 2020.

    In October 2020, the government's foreign debt was recorded at US $ 199.8 billion or grew 0.3 percent on an annual basis, down from the growth in September 2020 of 1.6 percent on an annual basis.

    The slowdown in growth, according to Erwin, was influenced by the repayment of the Government's foreign loans amid the return of foreign capital inflows on the Government Securities (SBN) market, in line with declining global financial market uncertainty. In addition, positive investor perceptions are maintained on the prospects for improvement in the domestic economy.

    "The government's external debt is still managed carefully, credibly and accountably to support priority spending, including dealing with the Covid-19 pandemic and implementing the National Economic Recovery Program (PEN)," said Erwin.

    The program covers the health services sector and social activities, 23.8 percent of the total Government external debt; construction sector 16.6 percent; education service sector 16.5 percent; government administration, defense, and compulsory social security sectors 11.8 percent; and the financial services and insurance sector 11.4 percent.

    In contrast to government debt, private debt grew slightly higher than the previous month. Private foreign debt growth at the end of October 2020 was recorded at 6.4 percent on an annual basis, slightly higher than the growth in the previous month of 6.1 percent on an annual basis.

    This development, said Erwin, was driven by an increase in the external debt growth of financial institutions (LK) by 0.1 percent on an annual basis, after recording a contraction of 0.9 percent in the previous month. Meanwhile, the growth of non-financial institution company external debt (PBLK) was relatively stable at 8.3 percent.

    By sector, the largest foreign debt with a share of 77.4 percent of total private external debt came from the financial services and insurance sector, the electricity, gas, steam / hot and cold air (LGA) sector, the mining and quarrying sector, and the sector. processing industry. (R-01)

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