Indonesia's External Debt Rises to US$437.9 Billion in February 2026 Due to This

Bank Indonesia (BI) has reported that Indonesia’s external debt (ULN) position in February 2026 rose to US$437.9 billion. Consequently, the ULN-to-GDP ratio now stands at 29.8 per cent.

BI’s Director of the Communication Department, Anton Pitono, stated in an official release in Jakarta on Wednesday, 15 April 2026, that the increase in the ULN position was mainly driven by public sector ULN, particularly from the central bank, in line with foreign capital inflows into Bank Indonesia Rupiah Securities (SRBI).

The February 2026 ULN position rose compared to the previous month’s figure of US$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).

Furthermore, the government’s ULN position in February 2026 was recorded at US$215.9 billion, growing by 5.5 per cent (yoy), slightly lower than the previous month’s 5.6 per cent (yoy). This development was primarily influenced by a decline in debt securities positions.

By economic sector, the government’s ULN utilisation supports, 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 warehousing (8.5 per cent).

The government’s ULN position is 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 from the impact of rising global uncertainties.

On the other hand, the private sector’s ULN position in February 2026 was recorded at US$193.7 billion, down 0.7 per cent (yoy) on an annual basis. The private ULN development was influenced by financial corporations and non-financial corporations, which decreased by 2.8 per cent (yoy) and 0.2 per cent (yoy), respectively.

By economic sector, the largest private ULN comes from the manufacturing industry, financial and insurance services, electricity and gas procurement; as well as mining and quarrying, accounting for 80.3 per cent of total private ULN. Private ULN is dominated by long-term debt, comprising 76.0 per cent of total private ULN.