JAKARTA, Nov. 15 (Xinhua) -- Indonesia's foreign debt reached 427.8 billion U.S. dollars in the third quarter of this year, marking an 8.3 percent increase compared to the same period last year, according to a statement by Bank Indonesia on Friday.

"The rise in foreign debt was primarily influenced by the depreciation of the U.S. dollar against most global currencies, including the rupiah. Additionally, the public sector contributed significantly to this increase," said Ramdan Denny Prakoso, executive director of Bank Indonesia's communication department, during a press conference in Jakarta.

Despite the uptick, Prakoso emphasized that the foreign debt level remains manageable, as reflected in Indonesia's foreign debt-to-GDP ratio, which stood at 31.1 percent. The debt is largely long-term, comprising 84.2 percent of the total.

"To ensure a sound foreign debt structure, the government continues to enhance coordination in monitoring developments in debt management. We are committed to maintaining credibility by meeting principal and interest payment obligations on time. Our approach to foreign debt management remains prudent and accountable, aimed at achieving the most efficient and optimal financing," he said. Enditem

Related

Go to Forum >>0 Comment(s)