Bank Indonesia (BI) reported that Indonesia's foreign debt reached US$390.2 billion in October 2022. Up to that period, the largest creditor to Indonesia was Singapore, with a loan value of US$59 billion.
The following is a complete list of the 12 largest creditor countries to Indonesia as of October 2022:
* Singapore: US$59 billion
* United States: US$33.6 billion
* Japan: US$23.3 billion
* China: US$20.2 billion
* Hong Kong: US$17.3 billion
* South Korea: US$6.3 billion
* Netherlands: US$5.1 billion
* Germany: US$4.9 billion
* France: US$3.5 billion
* United Kingdom: US$3.4 billion
* Australia: US$2 billion
* Switzerland: US$1.7 billion
Cumulatively, Indonesia's foreign debt originating from foreign countries reached US$203.9 billion, while debt from international financial institutions amounted to US$40.3 billion, and debt from other parties reached US$145.97 billion.
When converted to Indonesian Rupiah, the total debt is equivalent to Rp6.09 quadrillion (using an exchange rate of Rp15,623/US$). Although the amount is substantial, BI assesses that Indonesia's debt remains manageable.
"Indonesia's foreign debt (ULN) in October 2022 remained under control, reflected in the ratio of Indonesia's ULN to Gross Domestic Product (GDP), which remained at around 29.6%, down from 30.1% the previous month," BI stated in its press release on Thursday, December 15, 2022.
"Furthermore, the structure of Indonesia's ULN remains healthy, indicated by the fact that Indonesia's ULN is still dominated by long-term ULN, with a share reaching 87.1% of the total ULN," it continued.