Indonesia's foreign debts reached US$401.4 billion in November

Indonesia's foreign debts reached US$401.4 billion in November

Illustration of foreign debts. ANTARA/Pixabay/Artbaggage/am.

The amount of the government's foreign debts .(in November 2019) was lower than that of the previous month due to the settlement of bilateral and multilateral debts that were due in the reporting period
Jakarta (ANTARA) - Indonesia's foreign debts reached US$401.4 billion in November 2019, up 8.3 percent compared to November 2018, but down 12 percent compared to October 2019, Bank Indonesia (BI) said. The foreign debts comprised the government's and the central bank's debts valued at US$201.4 billion and the private sector's debts recorded at US$200.1 billion, according to BI's statistical data announced on Wednesday.

The data showed the government's debts grew 10.1 percent to US$198.6 billion in November 2019, or lower than 13.6 percent recorded a month earlier.

"The amount of the government's foreign debts (in November 2019) was lower than that of the previous month due to the settlement of bilateral and multilateral debts that were due in the reporting period," the central bank said.

The management of the government's foreign debts still provides priority to financing development, particularly several productive sectors including medical services and social activities, construction, educational services, government administration, defense, compulsory social security, and financial services and insurance, according to BI.

Meanwhile, the private sector's foreign debts rose 6.9 percent compared to November 2018 but declined compared to 10.7 percent in the previous month.

"The development was influenced by, among others, the settlement of mature domestic securities although in the same period corporations other than financial institutions issued debt securities and banks withdrew loans," BI said.

On a sectoral basis, the private sector's foreign debts were dominated by the financial services and the insurance sector, electricity, gas, steam/hot water and air sector, manufacturing industrial sector, and mining and excavation sector. The four sectors' foreign debts made up 76.9 percent of the private sector's foreign debts.

BI ensured that the structure of the country's foreign debts remains healthy as reflected by the ratio of debts to national gross domestic product reaching 35.9 percent in November 2019.

In addition, Indonesia's foreign debts were dominated by long-term debts, accounting for 88.5 percent of the total foreign debts, the central bank said. 

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