RI foreign debt drops to US$131.7 billion: BI
JAKARTA (JP): Indonesia's total foreign debt dropped to US$131.7 billion as of February this year, down from $133.7 billion in January, the central bank reported yesterday.
Bank Indonesia said the fall was mainly due to a $1.9 billion decline in non-bank private sector and state bank foreign obligations, which decreased by $1.1 billion and $0.6 billion respectively.
The decline in non-bank private sector overseas debt was largely due to a $0.8 billion reduction in foreign borrowing, while the decline in state bank's foreign obligations was caused by a $0.4 billion reduction in the commercial paper burden, it explained.
The country's total overseas debt consists of $53.5 billion in government long-term debt, and $78.2 billion in debts held by the private sector and state-owned companies, including $6.6 billion in the form of commercial papers, BI said. (rei)
Table: Indonesia external debt (As of February 28, 1998; in million US$)
Total external debt 131,671.0
I. Public Sector 65,395.5
A. Government 53,465.0
Of which IMF credit $3.0 billion
B. State-owned enterprises 11,930.5
1. State banks 6,059.5
i. Bank credit 5,451.5
ii. Domestic CP/MTN/FRN/CD/PN
owned by non residents 608.0
2. Non bank enterprises 5,871.0
i. Bank credit 3,891.0
ii. Domestic CP/MTN/FRN/CD/PN
owned by non residents 1,980.0
II. Private sector 66,275.5
1. Private banks 8,554.5
i. Bank credit 8,268.5
a. Foreign owned banks 495.3
b. Joint venture banks 4,042.4
c. Domestically owned banks 3,730.8
ii. Domestic CP/MTN/FRN/CD/PN
owned by non residents 286.0
2. Non-bank corporations 57,721.0
i. Bank credit 53,947.0
a. Foreign investment (PMA) 26,172.0
b. Domestic investment (PMDN)
and non-PMDN 27,775.0
ii. Domestic CP/MTN/FRN/CD/PN owned
by non residents 3,774.0
- Government debt includes $10 billion SBI owned by non residents
- CP : commercial paper
- MTN: medium term notes
- FRN: floating rate notes
- CD : certificate of deposit
- PN : promissory notes
Source: Bank Indonesia