Indonesia’s External Debt Stood at US$439.8 Billion as of April 2026

JAKARTA, Jakartaweekly.com —Indonesia’s external debt (ED) stood at US$439.8 billion as of April 2026, according to Bank Indonesia. The figure grew by 1.9% year-on-year (yoy), accelerating from the 1.0% annual growth recorded in March 2026.

Bank Indonesia Executive Director Ramdan Denny Prakoso said the increase in Indonesia’s external debt was driven by higher public-sector borrowing, while private-sector external debt continued to contract.

“Government external debt grew at a slower pace,” he said in Jakarta on Wednesday, June 17, 2026.

He noted that government external debt reached US$216.4 billion in April 2026, representing annual growth of 3.7%, slightly lower than the 3.8% growth recorded in March 2026.

The moderation in government external debt growth was attributed to slower growth in foreign loans. At the same time, foreign capital inflows into government bonds (Surat Berharga Negara/SBN) continued to post a net inflow.

“This reflects sustained investor confidence in Indonesia’s economic prospects,” he said.

According to Prakoso, external debt continues to be utilized as an instrument to support financing for productive sectors. Bank Indonesia data show that the largest share of government external debt was allocated to the health services and social activities sector, accounting for 22% of the total.

This was followed by Public Administration, Defense, and Compulsory Social Security at 20.5%; Education Services at 16.2%; Construction at 11.5%; and Transportation and Warehousing at 8.5%.

The central bank also revealed that government external debt was overwhelmingly dominated by long-term debt, which accounted for 99.99% of the total government external debt.

Meanwhile, private-sector external debt stood at US$193.2 billion in April 2026. The figure recorded a year-on-year contraction of 0.7%, in line with a 5.0% contraction in external debt among financial institutions.

“This was lower than the 6.3% contraction recorded in March 2026,” he said.

Bank Indonesia reported that the largest shares of private-sector external debt were held by the Manufacturing Industry; Financial and Insurance Services; Electricity and Gas Supply; and Mining and Quarrying sectors, which together accounted for 79.6% of the total.

Long-term debt also dominated private-sector external debt, representing 75.8% of the total.

Bank Indonesia assessed that Indonesia’s external debt remains manageable, as reflected by its external debt-to-GDP ratio of 29.6% in April 2026. In addition, the debt structure remains sound, with long-term debt accounting for 84.5% of the total external debt.