The central bank (Bank Indonesia/BI) also reported Monday (Jan 15) that Indonesia’s external debt at the end of November 2017 amounted to US$347.3 billion or grew 9.1% (yoy). The private sector external debt stood at US$170.6 billion or grew at 4.2% (yoy), higher than the previous month growth of 1.3% (yoy). Meanwhile, the public sector external debt amounted to US$176.6 billion or grew 14.3% (yoy), expanding from 8.4% (yoy) in the previous month.

The external debt was dominated by long-term debt, accounted for 85.7% of total external debt at the end of November 2017 with growth accelerating from 3.9% (yoy) the month earlier to 7.5% (yoy). Meanwhile, short-term external debt represented 14.3% of total external debt grew 19.8 (yoy), or higher than 10.8% (yoy) in October 2017.

BI views the development of external debt in November 2017 remains manageable. The ratio of Indonesia’s external debt to gross domestic product (GDP) is stable at around 34% at the end of November 2017. The ratio is better than the average ratio of peer countries.