JAKARTA - Indonesia's external debt position at the end of the first quarter of 2022 was recorded at US$411.5 billion, down from US$415.7 billion in the previous quarter. This development was caused by a decline in the position of external debt in the public sector (Government and Central Bank) and the private sector. On an annual basis, the position of external debt in the first quarter of 2022 contracted by 1.1% (yoy), deeper than the contraction in the previous quarter of 0.3% (yoy).
The downward trend in Government external debt in the first quarter of 2022 continued. The position of the Government's external debt in the first quarter of 2022 was US$196.2 billion, down from the position in the previous quarter of US$200.2 billion. On an annual basis, growth in Government external debt contracted by 3.4% (yoy), deeper than the contraction in the previous quarter of 3.0% (yoy). The decline occurred in line with several series of maturing Government Securities (SBN), both domestic and foreign currency bonds, as well as net repayments of loans maturing during the period January to March 2022, most of which were bilateral loans.
Private external debt declined compared to the previous quarter. The position of private external debt in the first quarter of 2022 was recorded at US$206.4 billion, down from US$206.5 billion in the fourth quarter of 2021. Annually, private external debt contracted 1.8% (yoy), deeper than the contraction in the previous quarter. previously at 0.6% (yoy). This development was caused by the payment of foreign loans and debt securities that matured during the first quarter of 2022, so that the external debt of financial institutions (financial corporations) and non-financial corporations contracted by 5.1% (yoy) and 1, respectively. 0% (yoy).
Erwin Haryono, Head of the Communications Department of Bank Indonesia said, “The structure of Indonesia's external debt remains healthy, supported by the application of prudential principles in its management. Indonesia's external debt in the first quarter of 2022 remained under control, as reflected in the ratio of Indonesia's external debt to Gross Domestic Product (GDP) which was maintained at around 33.7%, down from the ratio in the previous quarter of 35.0%." (LM)