RI forex reserves rise to US$15.8 billion

RI forex reserves rise to US$15.8 billion

JAKARTA (JP): The country's net foreign exchange reserves
increased by US$1.4 billion to $15.8 billion in the week ending
March 31, Bank Indonesia announced in its weekly report.

The central bank said on Monday the increase resulted from
government oil and gas revenues and disbursement of foreign
loans.

The latter include $458.8 million from the International
Monetary Fund, $320 million from the Asian Development Bank,
$529.7 million from Japan's Overseas Economic Cooperation Fund
and $503.4 million from Japan's Exim Bank.

BI said the level was above the IMF adjusted net international
reserve of $11.4 billion.

Gross forex reserves increased by $1.8 billion to $25.8
billion.

Government deposits in the central bank declined by Rp 346
billion, mainly due to payments for subsidized credit programs,
time deposit guarantee at liquidated banks and servicing of
foreign debt, BI said.

Net claims on the Indonesian Bank Restructuring Agency (IBRA)
decreased by Rp 335 billion from the level the previous week, it
said.

The central bank added that net domestic assets during the
week declined by Rp 9.7 trillion to negative Rp 79.5 trillion.

It noted the level was below the IMF adjusted target of
negative Rp 39.52 trillion. (rei)