Indonesia’s foreign debt growth slows down

 Indonesia’s foreign debt growth slows down

Indonesia's year-on-year foreign debt growth dropped to 7.3 per cent in July 2013 from 8 per cent recorded in June 2013, Bank Indonesia says.

Indonesia's foreign debt stood at US$259.54 billion (S$325 billion) in July 2013.

"Based on the time frame, Indonesia's foreign debt is dominated by long-term debts, which consist of 82.3 per cent of the total foreign debt," Bank Indonesia said in an official release.

Based on foreign exchange composition, the US dollar still dominates with 68.2 per cent out of the total foreign debt.

"The slowdown in Indonesia's foreign debt growth is triggered by the private sector," Bank Indonesia's release said.

Indonesian private sector's year-on-year foreign debt growth dropped to 9.5 per cent or equal to $133.94 billion in July 2013 from 11 per cent recorded in the previous month.

Meanwhile, the public sector's year-on-year foreign debt growth increased by 5.1 per cent or equal to $125.60 billion in July 2013 from 4.9 per cent recorded in June 2013.

"Bank Indonesia sees that the development of foreign debt growth remains healthy and sustainable. The slowdown, particularly from the private sector, is in line with the national economic trend."

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