Indonesia's Government Debt Still Low by International Standard
Indonesian central government debt increased IDR 15.8 trillion (USD $1.6 billion) in the first quarter of 2013 to a total current debt of IDR 1,991.22 trillion (USD $205.3 billion). This total debt consists of loans amounting to IDR 590.2 trillion (USD $60.8 billion) and government securities (Surat Berharga Negara, or SBN) totaling 1,401.1 trillion (USD $144.4 billion). The loans are divided in foreign loans (IDR 588.4 trillion) and domestic loans (IDR 1.8 trillion). The country's debt-to-GDP ratio is currently approximately 24 percent.
Indonesia's debt as a percentage of GDP has fallen considerably in the last 15 years, particularly caused by the country's robust economic growth in combination with prudent fiscal management. The IMF thus predicts that Indonesia's external debt to GDP ratio will continue to fall in the near future towards 20 percent. As a comparison, the government debt-to-GDP ratios of a number of selected countries are: America (107 percent), Japan (237 percent), and Brazil (64 percent).
Indonesian government securities are mostly IDR rupiah denominated (IDR 1,136.2 trillion). Foreign loans in foreign currencies (mostly US dollar) amount to US $60.54 billion.
In Q1-2013, the Indonesian government has succeeded in paying off 21.6 percent of this year's targeted debt repayment. Realized reimbursement in Q1-2013 consisted of principal debt (IDR 38.3 trillion) and debt interest (IDR 26.4 trillion).
According to data from Indonesia's central bank (Bank Indonesia), total debt of Indonesia - which includes government debt, private debt and Bank Indonesia's debt - stood at USD $250.5 billion in January 2013. About half of this debt is accounted for by private parties.
Government Debt:
| 2009 | 2010 | 2011 | 2012 | 2013¹ | |
| Government Securities |
979.5 | 1.064.4 | 1,187.7 | 1,361.1 | 1,401.0 |
| Domestic Loans | - | 0.39 | 1.01 | 1.80 | 1.82 |
| Foreign Loans | 611.2 | 616.9 | 620.3 | 612.5 | 588.4 |
| Total | 1,590.7 | 1,681.7 | 1,809.0 | 1,975.4 | 1,991.2 |
in IDR rupiah trillion
¹ in March 2013
Source: Investor Daily
Total Debt of Indonesia:
| January 2013 | |
| Government |
115.21 |
| Central Bank |
10.27 |
| Private |
125.06 |
| Total Debt |
250.54 |
in billion US dollar
Source: Bank Indonesia
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