Indonesia's foreign debt has indeed increased year on year. However, its current condition is better/more controlled compared to the 1998 crisis, both in terms of its ratio to foreign exchange reserves and to the economy (Gross Domestic Product/GDP).
Indonesia's foreign debt position at the end of 2017 reached US$352.2 billion, or the equivalent of Rp4,772 trillion, a 133.6% increase compared to its 1998 position. Meanwhile, Indonesia's foreign exchange reserves increased even more, by 648% to US$130.2 billion, enough to finance 8.3 months of imports and government foreign debt. Similarly, Indonesia's GDP grew larger than its foreign debt, by 742% to US$1,003 trillion.
During the crisis, the ratio of Indonesia's foreign debt reached 8.67 times its foreign exchange reserves and 1.27 times its GDP. However, at the end of last year, the ratio of Indonesia's foreign debt was only 2.71 times its foreign exchange reserves and only 0.35 times its GDP. Although nominally very large, Indonesia's foreign debt remains manageable.
(Read Databoks: [Indonesia's Foreign Debt Ratio and Government Debt])