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JAKARTA. Indonesia's foreign debts rose 6.3 percent to US$319 billion in April 2016 compared to the same month last year, an increase of $3 billion compared to a month earlier, Bank Indonesia (BI) said.
The increase in foreign debts were mostly contributed by long-term foreign debts and public foreign debts, according to the BI's foreign debt statistic publication on Friday.
Long-term foreign debts in April 2016 touched $279.3 billion, accounting for 87.6 percent of the overall foreign debts, with an average annual growth rate of 8.3 percent. The foreign debt growth in April 2016 was higher than in March 2016 when it was recorded at 7.9 percent.
Foreign debts in the public sector grew 15.7 percent in April 2016 compared to 14 percent in March 2016. Hence, foreign debts in the public sector amounted to $152.8 billion, or 48.2 percent of the total foreign debts, while private foreign debts reached $165 billion, or 51.8 percent of the total.
The private foreign debts in April fell sharply by 1.1 percent in April 2016 compared to 1 percent in March 2016.
"In the private sector, foreign debts in April were mostly concentrated in the financial, processing industry, and mining, along with the electricity, gas and clean water sectors. The foreign debts in the four sectors accounted for 76 percent of the total private foreign debts," according to BI.
After all, the central bank considered the growth of foreign debts in April 2016 quite sound, while asking the government to always stay alert for its impact on the national economy.
BI will always monitor the development of foreign debts, especially private foreign debts, so that they play an optimum role in supporting development without causing the risk of macroeconomic instability.
