Indonesia’s External Debt Reaches USD 408.6 Billion in 2Q2020 with Global Sukuk Issuance and SBNs

August 17, 2020

Indonesia’s external debt (inclusive of Government and private sector borrowings) rose 5% year-on-year (YoY) to USD 408.6 billion in the second quarter of 2020 (2Q 2020), according to Bank Indonesia (BI). This exceeded the first quarter’s growth of 0.6% YoY. The Indonesian Government’s foreign debt increased 2.1% YoY to USD 196.5 billion in June 2020, while public sector debt (raised by the Government and BI) reached USD 199.3 billion.

According to BI, the increase in foreign debt was due to the Government issuing global Sukuk and more sovereign debt papers (SBNs) to foreign investors, to help raise funds for the COVID-19 pandemic response, as well as to boost economic recovery.