Singapore, Indonesia's Largest Creditor

Singapore is Indonesia's largest bilateral creditor. Based on a release from the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, Indonesia's debt to Singapore as of September 2016 reached US$53.7 billion, equivalent to Rp730 trillion. The second largest creditor nation is Japan, with a value of US$33.6 billion or approximately Rp457 trillion. Besides Singapore and Japan, Indonesia also received significant loans from China, reaching US$14.2 billion or Rp193 trillion.

According to the DJPPR report, the total central government debt as of September 2016 reached US$325 billion, a slight increase from the August figure of US$322 billion. US$175 billion of Indonesia's loans are bilateral debt, US$30 billion from international organizations, and the remaining US$119 billion from other sources.