External debt up 3.4% yoy in January
Grace D. Amianti
The Jakarta Post
Indonesia's external debt grew by 3.4 percent year-on-year (yoy) to US$320.3 billion in January, according to the latest statistics published by Bank Indonesia (BI).
The rise was triggered by a 12.4 percent yoy increase to $161.2 billion in public sector offshore borrowing, marking an acceleration from the 11 percent increase seen in December last year, BI reported on Friday.
On the other hand, private sector external debt in January declined by 4.3 percent yoy to $159 billion.
The financial sector, manufacturing, mining and utilities together accounted for more than 76 percent of private companies' foreign debt in January.
The central bank has vowed to continue monitoring Indonesia's foreign debt, particularly in the private sector, saying it wants to ensure that the borrowings play a significant role in the country's development without triggering risks that may affect macroeconomic stability.
"Bank Indonesia sees that the external debt development in January remained healthy but continues to be vigilant about the risks to the national economy," it wrote in a statement.
BI data also show that long- and short-term external debt increased by 1.9 percent and 14.7 percent, respectively, in January.
Long-term external debt continues to dominate total foreign debt, accounting for 86.5 percent. (tas)
- Father-son duo arrested over alleged drug dealing
- Wu's fans skip Chinese New Year for NBA All Star celebrity game
- China vows to protect interests as US eyes trade sanctions
- Italy's country doctor making house calls on horseback
- Adelina’s family demands compensation
- Indonesia mulls ban on maids to Malaysia
- East Java targets to vaccinate 10m following diphtheria outbreak
- Vatican revives pope's sexual abuse panel
- Pakistan child killer handed four death sentences
- Four new parties to take part in 2019 elections