Indonesia’s total external debt was manageable with solid structure as of end Q1/2019. Indonesia’s external debt at the end of Q1/2019 stood at US$387,6 billion, consisting of government and central bank debt of US$190.5 billion and private debt (including state-owned enterprises) amounting to US$197,1 billion.

The Indonesia’s external debt grew 7.9% (yoy), higher than previous quarter growth due to net withdrawals external debt and the strengthening rupiah against US dollar resulted in a larger amount of rupiah debt in terms of US dollar. The rising external debt growth stemmed primarily from private external debt, amid a relatively stable government external debt growth.

Indonesia’s external debt maintained a solid structure. This condition was reflected, among others, from Indonesia’s external debt ratio to Gross Domestic Product (GDP) relatively stable at 36.9% as of end Q1/2019.