Indonesia's Largest Creditors

Bank Indonesia (BI) reported that Indonesia's external debt at the end of August 2022 was recorded at US$397.4 billion. This figure is lower than the previous month's external debt of US$400.2 billion.

This development was due to a decrease in external debt from both the public sector (Government and Central Bank) and the private sector. Year-on-year, Indonesia's external debt position in August 2022 contracted by 6.5% (yoy), a deeper contraction than the 4.1% (yoy) contraction in the previous month.

Indonesia's external debt is categorized into three types of creditors: countries, international organizations, and other creditors. The majority of Indonesia's debt comes from country creditors such as the United States, Singapore, Japan, and Hong Kong. Total debt from country creditors amounted to US$206.6 billion.

According to BI's records in August 2022, Singapore remained the largest creditor to Indonesia, with a value of US$59.54 billion. Debt from the United States amounted to US$33.52 billion, and from Japan, US$24.33 billion.

The following is a list of the largest external debt creditors to Indonesia in August 2022:

1. Singapore (US$59.54 billion)
2. USA (US$33.52 billion)
3. Japan (US$24.33 billion)
4. China (US$21.04 billion)
5. Hong Kong (US$16.84 billion)

(read: Indonesia's External Debt Falls to US$397.4 Billion in August, Majority from World Bank and IMF)