Indonesia’s external debt at the end of January 2019 remains controlled with healthy structure. The position of Indonesia’s external debt at the end of January 2019 was US$383.3 billion, consisting of government and central bank’s debt of US$190.2 billion, and private including state-owned enterprises’ debt amounting to US$193.1 billion.

The external debt position increased by US$5.5 billion compared to the previous month due to net withdrawals of external debt and the strengthening rupiah against US dollar resulted in bigger rupiah debt held by foreign investors in term of US dollar. Annually, Indonesia’s external debt at the end of January 2019 grew 7.2% (yoy), relatively stable compare to the previous month’s growth in line with increasing in government’s external debt growth, amid sluggish private’s external debt growth.

The structure of Indonesia’s external debt remains healthy. This is reflected in, among others, the ratio of Indonesia’s external debt to Gross Domestic Product (GDP) at the end of January 2019 was around 36%. This ratio was still in the range of the average country peers.