Indonesia's External Debt Rises to US$416.3 Billion in February 2022

Bank Indonesia (BI) reported Indonesia's external debt (ULN) at US$416.3 billion in February 2022. This figure represents a 0.53% increase compared to the previous month (month-to-month/m-to-m).

This monthly increase was the first since September 2021, following a period of continuous decline. The previous increase occurred in August 2021, reaching its highest level of US$423.9 billion.

Compared to the end of 2021, Indonesia's ULN increased by 0.18% (year-to-date/ytd). Compared to February 2021, Indonesia's ULN contracted by 1.5% (year-on-year/yoy).

A more detailed breakdown shows that the government's ULN was recorded at US$201.1 billion in February 2022, a growth of 0.86% compared to the previous month (m-to-m). Annually, the government's ULN decreased by 3.9% (yoy).

The central bank's ULN was recorded at US$8.9 billion in February 2022, growing by 0.24% month-on-month (m-to-m). Annually, the central bank's ULN grew significantly by 211.5% (yoy).

Meanwhile, the private sector's ULN was recorded at US$206.3 billion in February 2022, growing by 0.2% month-on-month. Annually, the private sector's ULN contracted by 2% (yoy).

The Central Bank noted that Indonesia's ULN in February 2022 remained under control, reflected in the relatively stable ratio of Indonesia's ULN to Gross Domestic Product (GDP) at around 34.2%, a slight increase compared to the previous month's ratio of 34%.

Furthermore, the structure of Indonesia's ULN remains healthy, indicated by the fact that it is still dominated by long-term ULN, with a share reaching 87.8% of the total ULN.