April 2019, Indonesia's External Debt Increased by 8.7%

Indonesia's external debt (ULN) increased by 8.7% (yoy) at the end of April 2019, reaching US$ 389.3 billion or Rp 5,583.72 trillion (using an exchange rate of Rp 14,343 per US$). This April increase is higher than the 7.9% (yoy) increase in March 2019, which reached US$ 387.88 billion. The increase in ULN was due to net ULN withdrawal transactions and the strengthening of the Rupiah against the US dollar, resulting in higher rupiah-denominated debt recorded in US dollar terms.

Government and BI ULN amounted to US$ 189.7 billion or Rp 2,720.86 trillion as of April 2019. Private sector ULN (including SOEs) amounted to US$ 199.6 billion or Rp 2,862.86 trillion. The main source of the increase in Indonesia's ULN growth came from private sector ULN, which increased by 14.5% (yoy). This growth is higher than the previous month's 13% (yoy). Meanwhile, government ULN slowed to 3.4% (yoy).

According to Bank Indonesia (BI), Indonesia's ULN structure remains healthy despite the increase in value. This is because the ratio of Indonesia's ULN to Gross Domestic Product (GDP) remained relatively stable compared to the previous month, at 36.5%. Furthermore, Indonesia's ULN structure continues to be dominated by long-term ULN, which accounts for 86.2% of the total ULN.