Bank of Indonesia published updated external debt statistics showing Indonesia’s external debt stock reached USD 435.6 billion in May 2025, with annual growth easing to 6.8% year on year (yoy) from 8.2% in April, reflecting slower public-sector borrowing and a deeper contraction in private external debt. Government external debt stood at USD 209.6 billion and grew 9.8% yoy (10.4% in April), linked to repayments of maturing international government securities (SBN) alongside foreign inflows into domestic SBN; 99.9% of government external debt was long-term. Private external debt fell 0.9% yoy (after a 0.4% decline), as financial corporations’ external debt growth slowed to 1.2% (from 2.8%) and non-financial corporations’ debt contracted 1.4% (from 1.2%); manufacturing, insurance and financial services, electricity and gas, and mining and quarrying accounted for 80.2% of private external debt, with 76.5% long-term. The external debt-to-GDP ratio was reported at 30.6%, with long-term maturities representing 84.6% of total external debt; Bank of Indonesia and the Government said they will continue coordinating to monitor developments. The detailed data and metadata are set out in the July 2025 edition of Indonesia’s External Debt Statistics (SULNI) published on the Bank of Indonesia website and via the Ministry of Finance.

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