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External debt reaches $324.2 billion in July
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Kalimantan Jawa Gas (KJG) technical and operational director Cahyo Triyogo (right), KJG regional manager Imam Supardi (center) and a field worker inspect supplies from the Kepodang gas well in the Java Sea, which is channeled to the Tambak Lorok onshore receiving facilities in Semarang, Central Java. KJG, a subsidiary of state-owned gas producer PGN, has built a 200-kilometer pipeline from Kepodang to Tambak Lorok to supply a power plant of Indonesia Power, a subsidiary of state-owned electricity company PLN, with 116 million cubic feet per day (mmcfd) of gas for five years. (JP/Wahyoe Boediwardhana)
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ndonesia’s external debt amounted to US$324.2 billion in July, a marginal increase from $323.8 billion in the previous month, according to the latest data from Bank Indonesia (BI).
The country's external debt is up 6.4 percent from the same period last year.
The BI data, released Monday, show a year-on-year (yoy) decline in short-term external debt and an increase in long-term external debt, which accounts for the lion’s share of total debt. While the foreign indebtedness of private companies decreased from a year ago, public sector external debt soared.
BI said it considered the development of external debt in July healthy, but added it would watch out for risks to the national economy.
"Looking ahead, Bank Indonesia will continue to monitor the development of external debt, particularly private sector external debt," the release said.
The central bank said it was aiming to ensure that the external debt played an optimal role in supporting the financing of development without causing risks to macroeconomic stability.
As of July, private sector external debt amounts to $164.5 billion, or 50.7 percent of total external debt, while public sector external debt amounts $159.7 billion, or 49.3 percent of the total.
Private foreign debt is concentrated in the financial sector, manufacturing, mining and utilities, which together account for 75.7 percent of the debt.
Last year, the external indebtedness of businesses in manufacturing and utilities increased, while that of mining companies and financial institutions decreased. (bbn)
