JAKARTA – Bank Indonesia (BI) reported Indonesia’s foreign debts had reached USD 407.3 billion as of February 2024, up 1.4% year-on-year (yoy) from February 2023.

Erwin Haryono, Assistant Governor of BI, revealed that increased foreign debt as of February 2024 came from the public sector (government and central bank), as well as the US dollar depreciation relative to global currency. “Foreign debts as of February 2024 were higher than foreign debts as of January 2024, which also increased 0.2% from last year,” he added in the press release, quoted Friday (19/4).

Meanwhile, government’s foreign debts were reported at USD 194.8 billion, up 1.3% yoy, also higher than the increase in January 2024 of 0.1% yoy. This shift resulted from cross-border loan withdrawal, particularly multilateral loan in order to support the government’s programmes and projects.

Furthermore, private sectors’ foreign debt as of February 2024 arrived at USD 197.4 billion with 1.3% yoy jump, carrying on the contraction in January of 2.3% yoy. This sector’s piling debt came from financial institutions and non-financial institutions of 1.3% yoy each. (LK/ZH)