Indonesia’s Debt-to-GDP Remains Healthy Despite Foreign Debt Increasing 3.8% YoY in 3Q 2020: Bank Indonesia

Indonesia’s foreign debt, including Government and private-sector borrowings rose 3.8% year-on-year (YoY) to reach USD 408.5 billion at the end of the third quarter 2020 (3Q 2020), according to data from Bank Indonesia (BI).

The rise in foreign debt was mainly attributed to the Government of Indonesia’s borrowings and issuances of samurai bonds in July 2020 to fund the COVID-19 relief efforts and economic stimulus packages, which are crucial for Indonesia’s recovery.

According to BI, the Government’s foreign debt reached USD 197.4 billion in September 2020, up 1.6% YoY, whilst private sector foreign debt (including borrowings from state-owned enterprises) was...