According to World Bank Group Finances data, during the 2014-2022 period, the World Bank provided loans to the Indonesian government totaling US$15.67 billion.
Converted to Indonesian Rupiah, this currently amounts to approximately Rp235 trillion (at an exchange rate of Rp15,000 per US dollar).
This Indonesian debt is the largest among other Southeast Asian countries, namely the Philippines, Myanmar, Cambodia, Laos, and Timor Leste, with details as shown in the graph.
Singapore, Thailand, and Malaysia are not recorded as having received loans from the World Bank during the 2014-2022 period.
Currently, the World Bank projects that Indonesia and countries in the East Asia-Pacific region in general will experience fairly good economic growth.
"Although the Chinese economy slowed in the first half of 2022, most countries in the East Asia and Pacific region are projected to have higher economic growth and lower inflation than other countries worldwide," the World Bank explained in its October 2022 edition of the *East Asia and the Pacific Economic Update* report.
Nevertheless, the World Bank remains cautious about risks. These risk factors include a global economic slowdown that could potentially suppress export demand.
Interest rate hikes abroad could also potentially trigger capital outflows and weaken the domestic currency, all of which could increase debt service burdens and inflation.