Analysis: Foreign debt climbs to Rp 8 quadrillion amid weak loan usage
Indonesia’s external debt has continued to rise and reached a new high of Rp 8 quadrillion ($444 billion) in May 2026. The increase was primarily driven by government and central bank debt, which accounted for 55.9 percent of total external debt, or US$248.5 billion, after growing 3.89 percent year-on-year (yoy).
Indonesia's external debt has climbed to Rp 8 quadrillion ($444 billion) in May 2026, with government and central bank debt accounting for 55.9 percent of the total, or US$248.5 billion. Private sector external debt contracted by 0.12 percent to $195.9 billion, indicating subdued borrowing among businesses. Government debt increased by 3.67 percent year-on-year to $217.3 billion, primarily to support health services and social assistance.
Central bank debt rose by 5.44 percent year-on-year to $31.1 billion, fueled by higher foreign ownership of Bank Indonesia Rupiah Securities. Short-term private sector debt rose 9.37 percent year-on-year to $49.2 billion, while short-term central bank debt increased 7.45 percent year-on-year to $22.35 billion.
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- Analysis: Foreign debt climbs to Rp 8 quadrillion amid weak loan usage thejakartapost.com
