On a year-on-year (yoy) basis, the annual growth of external debt in August was 6.6 percent, down from growth of 7.4 percent year on year recorded in July.
Jakarta (ANTARA News) - Indonesia`s external debt in August stood at US$257 billion, down 0.9 percent from US$259.61 billion recorded in the previous month, said the Indonesian Central Bank.

On a year-on-year (yoy) basis, the annual growth of external debt in August was 6.6 percent, down from growth of 7.4 percent year on year recorded in July.

As per information on the website of the central bank, Bank Indonesia, the trend of a declining external debt is consistent with the slowdown in the domestic economy.

The slowdown in growth of Indonesia`s external debt is a result of the slowing pace of growth of public external debt.

Public external debt in August grew 2.5 percent (yoy), lower than in July which saw a growth of 5.1 percent (yoy). By the end of August, public external debt stood at US$122.07 billion.

Meanwhile, private external debt grew 10.5 per cent (yoy), a slight increase from a growth of 9.6 percent (yoy) recorded in July. By the end of August, private external debt totaled US$135.23 billion.

Based on the time period, the slowdown was seen in short- and long-term public external debt. The growth of short-term public external debt declined from 66.6 per cent (yoy) in July to 57 percent (yoy) in August to touch US$15.18 billion.

Meanwhile, the long-term public external debt position decreased to -2.3 percent (yoy) by August-end, standing at US$106.89 billion, from -0.4 percent in July.

Based on the loan period, 79 percent of Indonesia`s total external debt in August comprised long-term external debt, while the rest was short-term external debt.

In terms of currency composition, U.S. dollars made up as much as 68.9 percent and the Japanese Yen accounted for 12.6 percent of Indonesia`s external debt while the rest comprised other currencies.

Based on groups of borrowers, private external debt was mostly drawn by non-banking corporations and reached US$112.44 billion, or 83.1 percent of the total private external debt. The remaining US$22.79 billion comprised the bank`s external debt.(*)

Editor: Heru Purwanto
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