Indonesia's Debt from Singapore Falls 3.3% in Q1 2022

Based on Indonesia's foreign debt (ULN) statistics released by Bank Indonesia (BI), 21 countries currently provide loans to Indonesia. Singapore is recorded as the largest creditor of Indonesia's ULN.

Until the end of March 2022, Singapore provided loans to Indonesia amounting to US$60.9 billion. However, this amount decreased by 3.3% compared to the end of December 2021, which was US$62.9 billion.

After Singapore, the United States (US) provided loans amounting to US$31.8 billion to Indonesia. This amount decreased slightly from US$31.9 billion at the end of last year.

Then, Japan is recorded as providing loans to Indonesia amounting to US$25.8 billion until the first quarter of 2022. This amount also decreased from US$26.9 billion in the previous quarter.

Meanwhile, Indonesia's ULN from China increased from US$20.95 billion at the end of December 2021 to US$22 billion at the end of March 2022. Similarly, the ULN from Hong Kong increased from US$16.3 billion to US$16.8 billion.

Besides other countries, Indonesia's ULN also comes from various sources such as global financial institutions, including the Asian Development Bank (ADB) and the International Monetary Fund (IMF).

The total debt from loans from other countries was US$210.8 billion until the end of March 2022, while debt from international institutions amounted to US$43.2 billion. Meanwhile, Indonesia's debt of US$157.5 billion originated from other institutions.

In total, Indonesia's ULN until the end of March 2022 amounted to US$411.5 billion, down from US$415.7 billion at the end of December.

This ULN consists of private ULN of US$206.4 billion, government ULN of US$196.2 billion, and central bank ULN of US$8.9 billion.

(See Also: [Until March 2022, Government Debt Reaches Rp7.052.5 Trillion])