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Today's Headlines Public Sector Debt

  • Indonesia's Foreign Debt Grew 6.3% y/y to $319 Billion in April 2016

    Indonesia's Foreign Debt Grew 6.3% y/y to $319 Bln in April 2016

    The central bank of Indonesia stated that Indonesia's foreign debt grew 6.3 percent (y/y) to USD $319.0 billion in April 2016. Foreign debt of Southeast Asia's largest economy in April consists of private sector external debt (USD $165.2 billion) and public sector external debt (USD $153.8 billion). Indonesia's private sector foreign debt continued to ease as local companies have been more careful in taking up new foreign debt due to the weakening rupiah in 2013-2015. In April, private sector external debt fell 1.1 percent (y/y).

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  • Corporate Debt Concerns Moody's but Indonesia's Rating Kept at Baa3/Stable

    Corporate Debt Concerns Moody's but Indonesia's Rating Kept at Baa3/Stable

    Global credit rating agency Moody's Investors Service released a report that includes a warning about the current state of Indonesia's corporate debt. Although Moody's is concerned about the relatively high reliance of Indonesian companies on foreign sources for their debt, the credit rating agency kept Indonesia's sovereign rating at Baa3 with a stable outlook. Moody's noted that Indonesia's government and corporate debt stands at 26.8 percent and 23.7 percent of the nation's gross domestic product (GDP), respectively.

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  • Foreign Debt Indonesia Rose in February as Government Seeks Funds

    Foreign Debt Indonesia Rose in February as Government Seeks Funds

    Indonesia's foreign debt rose 3.7 percent (y/y) to USD $311.5 billion at end-February 2016, a higher growth pace compared to the 2.2 percent (y/y) recorded in the preceding month. The central bank of Indonesia (Bank Indonesia) informed that rising foreign debt was solely due to higher public sector foreign debt, while private sector foreign debt in fact eased. The Indonesian government took up long-term foreign debt to fund its ambitious infrastructure development programs. As a result, public sector external debt rose 9 percent to USD $146.9 billion in February, or 47.2 percent of Indonesia's total foreign debt.

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  • Indonesia's Foreign Debt Growth Slowed on Global Uncertainty

    Indonesia's Foreign Debt Growth Slowed on Global Uncertainty

    Total outstanding foreign debt of Indonesia fell to USD $302.4 billion at the end of the third quarter of 2015, down USD $2.1 billion from the end of the preceding quarter. The central bank of Indonesia (Bank Indonesia) said both public and private external debt declined in Q3-2015 as both sectors were reluctant to take up new (overseas) debt amid global uncertainties, Indonesia's sluggish economic growth, and the fragile rupiah (ahead of looming capital outflows brought about by higher US interest rates).

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  • Public and Private Foreign Debt Growth Indonesia Slowed in July 2015

    Public and Private Foreign Debt Growth Indonesia Slowed in July 2015

    Indonesia’s foreign debt growth slowed in July 2015 by 3.7 percent (y/y) to a total of USD $303.7 billion from a 6.3 percent (y/y) growth pace in the preceding month. Based on the latest data from Indonesia’s central bank (Bank Indonesia) the nation’s total external debt consisted of USD $134.5 billion public sector foreign debt and USD $169.2 billion private sector foreign debt. Both public and private sector foreign debt growth slowed in July (compared to June) as these sectors were hesitant to take on more debt due to the depreciating rupiah.

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  • Indonesian Finance Ministry Announces Samurai Bonds Issuance in Q4-2014

    According to Indonesian Finance Ministry’s State Bond Director Loto Srinaita Ginting, the government of Indonesia intends to issue more than USD $500 million worth of samurai bonds in the fourth quarter of 2014. Samurai bonds are yen-denominated bonds. However, Ginting provided no further details about the bonds issuance. The Finance Ministry also plans to issue IDR 20 trillion (USD $1.7 billion) worth of domestic retail bonds in September 2014 (but these bonds are only available to Indonesians).

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  • External Debt of Indonesia Grew 7.4 Percent in February 2014

    Indonesia’s external debt in February 2014 amounted to USD $272.1 billion, thus having increased 7.4 percent (year-on-year) from the same month a year earlier. Outstanding external debt as of end-February 2014 consisted of public sector debt (USD $129.0 billion) and private sector debt (USD $143.1 billion). The growth pace of Indonesia's external debt in February 2014 was slightly higher than the 7.2 percent (yoy) growth pace recorded in January 2014. These data were taken from Bank Indonesia's website.

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  • Private Sector Foreign Debt in Indonesia Doubled between 2009 and 2013

    Indonesia's central bank (Bank Indonesia) said that the country's private debt has increased steadily in recent years. On the one hand this is a good sign as it indicates that the private sector is growing, but on the other hand the lender of last resort warned Indonesian companies to watch over their foreign loans as it can jeopardize the country’s financial stability. Private sector foreign debt doubled between 2009 and 2013, reaching USD $141.4 billion in January 2014. Meanwhile, public debt stood at the level of USD $127.9 billion in the same month.

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  • Bank Indonesia: Indonesia's External Debt Growth Slowing in August 2013

    Indonesia’s foreign debt was recorded at USD $257.30 billion in August 2013, a 0.9 decrease compared to foreign debt in July 2013 (USD $259.61 billion). On an annual basis (yoy), foreign debt growth in August was 6.6 percent, thus slowing compared to July’s growth of 7.4 percent (yoy). The central bank of Indonesia (Bank Indonesia) considers that the slowing growth in the country's foreign debt is in line with the slowing growth of the domestic economy. Indonesia's GDP growth forecast has been revised down to below the six percent mark.

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  • Growth of Indonesia's Foreign Debt Slows Down Conform Economic Trend

    Growth of Indonesia's foreign debt has slowed down in July 2013 according to data from Indonesia's central bank (Bank Indonesia). Total foreign debt in July 2013 stood at USD $259.54 billion, a 7.3 percent increase compared to the same month in 2012. In June 2013, the year on year growth had been 8 percent. Bank Indonesia stated that it considers Indonesia's current foreign debt situation - both in the private and public sector - as healthy. Growth has slowed down as a consequence of the slowing national economy.

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Latest Columns Public Sector Debt

  • Foreign Debt Growth Indonesia Slows, What about the Interest Rate?

    Foreign Debt Growth Indonesia Slows, What about the Interest Rate?

    Bank Indonesia announced today that the country’s total foreign debt rose 7.6 percent (y/y) to USD $298.1 billion in the first quarter of 2015. This figure means that the pace of the country’s foreign debt growth has slowed from the 10.2 percentage point growth (y/y) that was recorded in the preceding quarter. Both public and private sector foreign debt growth slowed as both sectors are more careful to take up loans amid a weakening rupiah while export revenues decline amid sluggish global (and domestic) economic growth.

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  • Public and Private Debt Growth Indonesia Slowed in February 2015

    Public and Private Debt Growth Indonesia Slowed in February 2015

    On Friday (17/04) Indonesia’s central bank (Bank Indonesia) announced that the country’s foreign debt grew 9.4 percent (y/y) to USD $298.9 billion in February 2015, thus slower than the 10.5 percent (y/y) growth rate in the preceding month. Indonesia’s external debt growth slowed as both public and private sectors refrained from taking more debt. Public sector foreign debt grew 4.4 percent (y/y) to USD 134.8 billion, while private sector foreign debt rose 13.8 percent (y/y) to USD $164.1 billion in February.

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  • Growth Indonesia’s Foreign Debt Accelerated in November 2014

    Foreign debt of Indonesia accelerated 11.8 percent year-on-year (y/y) to USD $294.4 billion in November 2014. This total debt of USD $294.4 billion in November 2014 consists of public foreign debt of USD $133.9 billion and private foreign debt of USD $160.5 billion. The central bank of Indonesia (Bank Indonesia) stated that public foreign debt rose 8.6 percent (y/y) mainly on a rise in foreign holdings on government debt securities. Meanwhile, the growth pace of private foreign debt slightly eased.

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  • Financial Update: Foreign Debt of Indonesia Continues to Rise

    Total foreign outstanding debt of Indonesia continues to grow at a robust pace. Based on data from the country’s central bank, total external debt rose 11.2 percent year-on-year to USD $292 billion at the end of September 2014 as private Indonesian companies have been eager to seek lower interest rates abroad. Privately-held foreign debt was up 14 percent y/y to USD $159.3 billion at end-September. Central Bank official Tirta Segara said that private sector debt is concentrated in the financial, manufacturing and mining sectors.

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  • Debt of Indonesia Rising but Healthy with Public Debt-to-GDP Ratio at 28.7%

    Total government debt of Indonesia rose IDR 781 trillion (USD $64.5 billion) between 2009 and 2013 to IDR 2,371.39 trillion (USD $196 billion). This growing outstanding government debt is mainly caused by government loans to finance its State Budgets (APBN) as well as recent sharp rupiah depreciation (as part of this debt is denominated in foreign currencies). In the same period, Indonesia's per capita debt rose from IDR 6.8 million (USD $561) to IDR 8.6 million (USD $710), a 26.4 percent growth.

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  • Indonesia’s External Debt Continues its Slowing Trend in October 2013

    Indonesia’s external debt growth continued to slow in October 2013. Debt grew 5.8 percent (yoy) to USD $262.4 billion compared to 8.6 percent (yoy) growth in the previous month. Slowing growth in external debt occurred both in the public and private sector. Public sector external debt position at the end of October 2013 grew 0.5 percent (yoy) to USD $125.8 billion compared to 2.1 percent (yoy) in September. Meanwhile, private sector external debt grew steadily at 11.1 percent (yoy) to USD $136.6 billion as compared to the previous month.

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