Indonesia's Foreign Exchange Reserves Rise to US$125.9 Billion After Government Borrowing
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Bank Indonesia (BI) recorded an increase in its foreign exchange reserves of US$2.1 billion to US$125.9 billion in July 2019. This increase was driven by higher foreign exchange earnings from oil and gas exports and other foreign currencies.
Furthermore, the government's foreign debt drawdowns also contributed to the increase in foreign exchange reserves in July 2019. According to the July 2017 edition of *APBN Kita*, government debt reached Rp 4,570 trillion by June 2019. Of this amount, Rp 1,048.8 trillion was in the form of government bonds (Surat Berharga Negara or SBN) denominated in foreign currencies.
Indonesia's foreign exchange reserves in July 2019 were equivalent to 7.3 months of import cover or 7 months of import and government foreign debt payments. This figure exceeds the international adequacy standard of approximately 3 months of import cover.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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