BI's net claims on IBRA drop

JAKARTA (JP): Bank Indonesia's net claims on the Indonesian Bank Restructuring Agency (IBRA) declined by Rp 3.5 trillion to Rp 138.49 trillion (US$17.3 billion) in the week ending September 15 from the level in the previous week, the central bank said on Monday.

BI said in its weekly indicator statement that the decline was primarily due to the repayment of the central bank's liquidity support by several banks under IBRA's supervision.

It also reported that net domestic assets during the week contracted to minus Rp 68.6 trillion, still below the Rp 45.19 trillion adjusted target of the IMF.

BI's net international reserves (NIR) dropped by US$100.3 million in the week to $13.8 billion from the previous week's level primarily due to servicing of the government's external debt, it added.

The NIR level was still above the $11.67 billion adjusted target of the IMF, BI said. (rei)

Table A: Foreign reserves (in million dollars)

Sept. 30 Oct. 7 Oct. 15

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Gross foreign assets 20,540.6 21,381.0 21,319.2

- Liquid reserves * - - -

- Other reserves ** - - -

Gross foreign liabilities 5,868.5 6,805.2 6,805.2

Net forward positions 0.0 0.0 0.0

Reserve against

foreign currency deposits 634.3 627.7 666.2

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Net international reserves 14,037.8 13,948.1 13,847.8

* Liquid gross foreign assets include gold, foreign securities, offshore deposits and special drawing rights.

** Other gross foreign assets include export drafts, deposits in the branches of domestic banks in offshore and deposits parked at foreign banks to guarantee letter of credits.

Table B: Monetary indicators (in billion rupiah)

Sept.30 Oct.7 Oct. 15

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Reserve money 70,214 71,551 69,884

- Currency in circulation 49,728 49,897 47,888

- Deposits at central bank 19,790 21,031 21,347

Net international reserves

(Rupiah at constant rate) 140,378 139,481 138,478

(in million dollars) 14,037.8 13,948.1 13,847.8

Net domestic assets -70,164 -67,930 -68,594

- Net claims on government -35,701 -28,485 -29,050

- Net claims on IBRA 141,555 141,991 138,487

- Liquidity credits 17,680 17,762 16,578

(of which to Bulog) 7,589 7,583 6,284

- Open market operations -67,370 -65,914 -60,968

Source: Bank Indonesia