Indonesia's External Debt Rises 1.9%, Reaches US$439.8 Billion

Bank Indonesia (BI) announced that Indonesia’s External Debt (ULN) position in April 2026 was recorded at US$439.8 billion, representing an annual growth of 1.9% year-on-year (yoy), higher than the 1.0% growth recorded in March 2026. “This development was influenced by the growth of public sector external debt amidst the ongoing contraction of private sector external debt,” said Head of the Communications Department Ramdan Denny Prakoso in a press release on Monday (15/6/2026).

Ramdan stated that government external debt in that period stood at US$216.4 billion, growing 3.7% yoy, slightly lower than the 3.8% growth in March 2026. The development of government external debt was mainly influenced by a slowing growth in foreign loan positions. Meanwhile, foreign capital inflows into Government Securities (SBN) continued to record a net inflow, reflecting sustained investor confidence in Indonesia’s economic prospects.

The private sector external debt position in April 2026 was recorded at US$193.2 billion, experiencing an annual growth contraction of 0.7% yoy, an improvement from the previous month’s contraction of 1.4% yoy. This development was primarily driven by external debt from financial corporations, which recorded an annual contraction of 5.0% yoy, lower than the 6.3% contraction in March 2026.

By economic sector, the largest private external debt originated from the Manufacturing Industry; Financial Services and Insurance; Electricity and Gas Supply; and Mining and Quarrying sectors, with a combined share of 79.6% of total private external debt. Private external debt remains dominated by long-term debt, with a share of 75.8% of the total.

“Indonesia’s external debt structure remains healthy, supported by the application of prudential principles in its management,” he explained. Indonesia’s external debt-to-Gross Domestic Product (GDP) ratio remained stable at 29.6% in April 2026, and was dominated by long-term external debt with a share of 84.5% of the total.

“In order to maintain a healthy external debt structure, Bank Indonesia and the Government continue to strengthen coordination in monitoring external debt developments. Indonesia will continue to optimise the role of external debt to support development financing and promote sustainable national economic growth. These efforts are carried out by minimising risks that could affect economic stability.”