Bank of Indonesia reports Indonesia’s external debt rose to USD 427.5 billion in January 2025 as public sector borrowing accelerated

Bank of Indonesia published an update on Indonesia’s external debt, reporting a January 2025 position of USD 427.5 billion and year-on-year growth of 5.1%, up from 4.2% in December 2024. The faster growth was attributed to the public sector, comprising the government and the central bank. Government external debt stood at USD 204.8 billion, with growth accelerating to 5.3% year-on-year from 3.3% the prior month, supported by foreign capital inflows into government securities (SBN). The release also reported that 99.9% of government external debt was long term, with the largest allocations linked to human health and social activities (22.6%), public administration, defence and compulsory social security (17.8%), education (16.6%), construction (12.1%), and insurance and financial services (8.2%). Private external debt was USD 194.4 billion and contracted 1.7% year-on-year, driven by a deeper contraction in financial corporations’ external debt of 2.3%; manufacturing, insurance and financial services, electricity and gas supply, and mining and quarrying accounted for 79.4% of private external debt, with 76.6% long term. Overall, the external debt-to-GDP ratio eased to 30.3% from 30.5%, and long-term debt represented 84.7% of total external debt. Bank of Indonesia noted it will continue coordination with the government to monitor external debt developments, and referenced the March 2025 edition of Indonesia’s External Debt Statistics (SULNI) as the source for the latest data and metadata.