Indonesia's External Debt Reaches US$415 Billion in May 2021

Bank Indonesia reported Indonesia's external debt (ULN) at US$415 billion, or Rp6,004 trillion, in May 2021. Indonesia's ULN decreased slightly by 0.6% compared to the previous month, driven by a decrease in government debt.

Government ULN decreased by 1.3% month-on-month, from US$206 billion to US$203.4 billion. This decrease is in line with the maturity of government securities (SBN) and foreign currency loans in May 2021.

Meanwhile, private ULN was recorded at approximately US$208.7 billion, relatively stable from its position in April 2021. Debt from this group mainly originated from the financial and insurance services sector, the electricity, gas, steam/hot water, and air conditioning sector, and the mining and quarrying sector.

Indonesia's total ULN grew by 3.1% year-on-year in May 2021, although slower than the previous month's 4.9% growth. The growth of government and private ULN also slowed, to 5.9% and 0.5%, respectively.

Bank Indonesia assessed that Indonesia's ULN in May 2021 remained under control. This is reflected in the ULN-to-Gross Domestic Product (GDP) ratio of 37.6%. A healthy structure is also evident from the dominance of long-term ULN, with a proportion of 88.5% of the total ULN.