Indonesian foreign debts US$323 billion

Jakarta (ANTARA News) – Bank Indonesia reported that the Indonesian foreign debts grew 6.3 percent on-year to US$323 billion in August, 2016, slower than last year growth of 6.6 percent.

Short term foreign debts and private sector debts declined, but government debts and long term debts rose, Executive Director of Communications Department of the Central Bank Tirta Segara said here on Monday.

The government debts rose 19.2 percent year on year to US$159.7 billion or 49.4 percent of the countrys total debts in August. The growth was higher than 18.7 percent yoy in July.

The debts of the private sector continued to decline. By August 2016, the foreign debts of private sector fell 3.9 percent yoy to US$163.3 billion or 50.6 percent of the countrys total foreign debts.

The main debtors among the private sector by the end of August are from the financial sector, manufacturing sector, the mining sector, the electricity, gas and drinking water sector.

Long term debts accounted for 87.5 percent of the countrys total foreign debts , up 8.1 percent yoy to US$282.5 billion.

Short term debts accounted for 12.5 percent .

The central bank described as quite healthy the developments of the countrys foreign debts in August, 2016.

“Bank Indonesia will continue to monitor the developments of the countrys foreign debts especially the debts of the private sector,” Tirta said.

“Foreign debts must be used effectively to finance development without risk of disrupting the countrys macro economy,” he said.(*)