Indonesia never defaults, Prabowo stresses at US business summit

President Prabowo Subianto stressed Indonesia’s unblemished debt record during an Iftar Dinner and Business Summit at the US Chamber of Commerce in Washington, DC on Wednesday (18 February).

“We have managed our economy prudently for many years. We have never defaulted, not once in our history. We have never failed to pay our debts,” the President said, as quoted by the Presidential Secretariat on Thursday.

He added that successive administrations will always honour debts incurred by previous governments, even if they were strong political rivals.

President Prabowo outlined his administration’s commitment to strengthening the national economic foundation through governance reform, improving human resource quality, and firm law enforcement to create a stable and conducive investment climate.

The Head of State acknowledged that Indonesia still faces major challenges, including poverty, hunger, and child malnutrition. However, he emphasised the importance of confronting problems directly and seeking the best solutions.

“I believe problems must be addressed head-on. We must have the courage to acknowledge our weaknesses and do our best to find the best solutions,” he said.

As part of a long-term strategy, he announced the establishment of ten new STEM-based universities to address the shortage of medical personnel and accelerate human capital development.

“We lack 140 thousand doctors and only graduate around 10 thousand doctors per year. That means it would take 14 years to close the gap unless we undertake new efforts, which is why I am establishing ten new STEM universities,” he said.

Indonesia is also building 500 high-quality secondary schools and opening education partnerships with leading institutions from the United Kingdom and the United States.