Indonesia's External Debt Falls to US$422.3 Billion in October 2021

Bank Indonesia (BI) reported Indonesia's external debt (ULN) data for October 2021. Indonesia's ULN decreased by 0.34% to US$ 422.3 billion, or Rp 6,058 trillion (using an exchange rate of Rp 14,347 per US dollar), from US$ 423.8 billion the previous month.

Year-on-year (yoy), Indonesia's ULN position in October 2021 increased by 2.2%, but this was lower than the 3.8% (yoy) growth in the previous month.

BI explained that the decrease in Indonesia's ULN was due to a decline in the ULN of both the government and the private sector.

In detail, the government's ULN was recorded at US$ 204.9 billion in October 2021, down 0.32% compared to the previous month (m-to-m). Meanwhile, the government's ULN in that period grew by 2.5% compared to the previous year (yoy).

The central bank's ULN was recorded at US$ 9.1 billion in October 2021, showing no change month-on-month (m-to-m). Year-on-year, the central bank's ULN grew by 223.6% (yoy).

Meanwhile, the private sector's ULN was recorded at US$ 208.4 billion in October 2021, down 0.37% month-on-month (m-to-m). Year-on-year, the private sector's ULN decreased by 0.37% (yoy).

Along with the decrease in Indonesia's ULN value, the ratio of Indonesia's ULN to its Gross Domestic Product (GDP) also fell from 37% in September to 36.1% in October. This ULN ratio indicates that the debt condition remains healthy.

Furthermore, Indonesia's ULN remains dominated by long-term ULN, accounting for 88.3% of the total ULN.