Indonesia's External Debt Rises to Rp7,366.37 Trillion in Q1 2026, Here are the Details
Bank Indonesia has recorded that the growth of Indonesia’s external debt (ULN) slowed in the first quarter of 2026. The position of Indonesia’s external debt during this period was recorded at US$433.4 billion, or approximately Rp7,366.37 trillion (at an exchange rate of Rp16,999 per US dollar). This figure represents an increase of 0.8 per cent, compared to the debt growth of 1.9 per cent in the fourth quarter of 2025.
Ramdan Denny Prakoso, Executive Director of Bank Indonesia’s Communication Department, revealed that the development of the external debt position was influenced by both public sector and private sector debt. “In order to ensure that the external debt structure remains healthy, Bank Indonesia and the Government continue to strengthen coordination in monitoring external debt developments,” said Ramdan, as quoted from his statement on Monday, 18 May 2026.
It was detailed that government external debt grew at a lower rate. The government’s external debt position in the first quarter of 2026 stood at US$214.7 billion, growing by 3.8% (yoy), which was lower than the growth of 5.5% (yoy) in the fourth quarter of 2025. The development of government debt was primarily influenced by foreign capital inflows into international Government Securities (SBN), as investor confidence in Indonesia’s economic prospects remains maintained.
As one of the financing instruments for the State Budget (APBN), government external debt is managed carefully, measurably, and accountably, with utilisation directed towards supporting government priority spending and leveraging economic growth momentum. Based on economic sectors, government debt is utilised to support Health Services and Social Activities (22.1% of total government debt); Government Administration, Defence, and Mandatory Social Security (20.2%); Education Services (16.2%); Construction (11.5%); and Transport and Warehousing (8.5%). The government debt position is dominated by long-term debt, accounting for 99.99% of the total government debt.
Private sector external debt decreased. The private sector external debt position in the first quarter of 2026 was recorded at US$191.4 billion, a decrease from the US$194.2 billion recorded in the fourth quarter of 2025, representing an annual contraction of 1.8% (yoy). The decrease in debt position occurred in the financial corporations borrowing group and non-financial corporations, which recorded annual contractions of 3.6% (yoy) and 1.3% (yoy) respectively.