BI: External Debt Rises to USD 437.9 Billion in February
Jakarta (ANTARA) - Bank Indonesia (BI) reports that Indonesia’s external debt (ULN) in February 2026 remained well-managed despite an increase to USD 437.9 billion, with the ULN-to-GDP ratio at 29.8 per cent.
The position of ULN in February 2026 rose compared to the previous month’s figure of USD 434.9 billion. On an annual basis, ULN in February 2026 grew by 2.5 per cent (year-on-year/yoy), higher than the previous month’s growth of 1.7 per cent (yoy).
Anton Pitono, Director of BI’s Communication Department, stated in an official release in Jakarta on Wednesday that the increase in ULN was mainly driven by public sector ULN, particularly the central bank, in line with foreign capital inflows into Bank Indonesia Rupiah Securities (SRBI).
Furthermore, the government’s ULN position in February 2026 was recorded at USD 215.9 billion, or growing by 5.5 per cent (yoy), slightly lower than the previous month’s 5.6 per cent (yoy). This development was mainly influenced by a decrease in debt securities positions.
By economic sector, the government’s ULN utilisation supported, among others, the health and social services sector (22.0 per cent of total government ULN); government administration, defence, and mandatory social security (20.3 per cent); education services (16.2 per cent); construction (11.6 per cent); and transportation and storage (8.5 per cent).
The government’s ULN position was dominated by long-term debt, accounting for 99.98 per cent of total government ULN.
Meanwhile, the increase in BI’s ULN was driven by a rise in non-resident ownership of monetary instruments issued by the central bank, in line with pro-market monetary operations and efforts to maintain rupiah exchange rate stability amid rising global uncertainties.
On the other hand, the private sector’s ULN position in February 2026 was recorded at USD 193.7 billion, or down 0.7 per cent year-on-year (yoy).
Private sector ULN developments were influenced by financial corporations and non-financial corporations, which declined by 2.8 per cent (yoy) and 0.2 per cent (yoy), respectively.
By economic sector, the largest private ULN came from the manufacturing industry; financial and insurance services; electricity and gas procurement; and mining and quarrying, accounting for 80.3 per cent of total private ULN.
Private ULN was dominated by long-term debt, accounting for 76.0 per cent of total private ULN.
Overall, Indonesia’s ULN was dominated by long-term debt, accounting for 84.9 per cent of total ULN.
To maintain a healthy ULN structure, BI and the government continue to strengthen coordination in monitoring ULN developments.
The role of ULN will also continue to be optimised to support development financing and drive sustainable national economic growth.
These efforts are carried out by minimising risks that could affect economic stability.