JAKARTA: Indonesia’s foreign debt has climbed by 6.3 percent year-on-year (yoy) in April 2016 to US$319 billion, as public-sector debt soared, while private debt declined. Most of the increase came from long-term obligations.
Bank Indonesia (BI) reported that long-term external debt grew by 8.3 percent yoy to $279 billion and now accounted for 87.6 percent of total external debt. Short-term external debt, meanwhile, declined by 5.5 percent yoy to $39.7 billion.
“The development of external debt in April is still healthy, but we remain vigilant about the risks to the national economy. BI will continue to monitor the development of external debt, particularly private-sector debt,” the central bank said in a press release on Friday.
The private sector dominated Indonesia’s foreign debt in April with $165.2 billion, or 51.8 percent of the total external debt. The public sector accounted for the remaining $153.8 billion.
The private external debt came mainly from the financial, the manufacturing and the mining industry as well as the electricity, gas and water supply industry.
Together, these four accounted for 76 percent of all private external debt, even though external debt among financial and mining companies declined from the previous year.
