Indonesia's Foreign Debt Rises to Rp 7.389,9 Trillion in January 2026

JAKARTA — Indonesia’s foreign debt declined on a month-on-month basis in January 2026, with decreases recorded in both government and private sector debt.

Bank Indonesia recorded Indonesia’s foreign debt at $434.7 billion, or approximately Rp 7.389,9 trillion (based on an exchange rate of Rp 17,000 per dollar), as of January 2026. This represented an increase from the previous month’s $431.7 billion.

“Indonesia’s foreign debt position in January 2026 has been maintained,” said Ramdan Denny Prakoso, head of Bank Indonesia’s Communications Department, in a statement on Monday (16 March 2026).

Government foreign debt comprised $216.3 billion of the total, growing 5.6 per cent compared to December 2025’s growth rate of 5.5 per cent. The development in the government’s foreign debt position was influenced by foreign loan disbursements to support government programmes and projects, as well as foreign capital inflows into international sovereign bonds.

Government foreign debt remains predominantly composed of long-term loans, with long-term debt accounting for 99.98 per cent of total government foreign debt.

The government utilises foreign debt to support healthcare and social activities (22 per cent of total government foreign debt), government administration, defence and compulsory social security (20.3 per cent), education services (16.2 per cent), construction (11.6 per cent), and transport and warehousing (8.5 per cent).

“As one of the instruments in financing the State Revenue and Expenditure Budget, government foreign debt is managed carefully, measurably, and accountably with utilisation continuously directed towards supporting priority programmes to maintain fiscal sustainability and strengthen the national economy,” Prakoso said.

Meanwhile, private sector foreign debt reached $193 billion as of January 2026, down from the previous month’s $194 billion. Growth contracted to 0.7 per cent year-on-year from the previous month’s 0.2 per cent year-on-year growth.