Indonesia becomes the country with the seventh largest external debt in the world

KOMPAS.COM – World Bank publishes external debt data for 120 low- to middle-income countries International debt statistics (IDS) 2021.

In a report issued on Wednesday (10/14/2020), the World Bank released the total external debt of the countries in 2009, 2015, 2016, 2017, and the latest data is the 2019 external debt.

Indonesia is listed as the country with the seventh highest external debt in the data.

Also read: 5 ways to pay off debt amid the impact of the Covid-19 pandemic

Indonesia’s foreign debt in 2019 was recorded as $ 402.08 billion.

If this is multiplied by the exchange rate of the rupee on Wednesday (1/14/2020) at 1:20 pm WIB (IDR 14,749), the amount of debt of Indonesia in 2019 is approximately IDR 5,930 trillion.

According to the report, the following 10 low-income countries medium with the highest external debt:

1. China: US $ 2.1 trillion

2. Brazil: US $ 569,390 million

3. India: US $ 560.03 billion

4. Russia: 490.72 billion US dollars

5. Mexico: 469,720 million US dollars

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6. Turkey: 440.78 billion US dollars

7. Indonesia: US $ 402.08 billion

8. Argentina: 279.30 million US dollars

9. South Africa: $ 188.10 billion

10. Thailand: 180.23 thousand dollars AS

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Returning to Indonesia, it is known that the external debt recorded in 2019 has increased compared to previous years.

In 2015, Indonesia’s external debt was US $ 307.74 billion, 2016 US $ 318.94 billion, 2017 US $ 353.56 billion, and in 2018 US $ 379.58 billion.

If you go back 10 years i.e. 2009, Indonesia’s external debt in 2019 has increased by as much as 222.67 billion US dollars, from 179.40 billion US dollars to 402.08 billion US dollars. .

However, the increase in the amount of debt was followed by an increase in the Gross National Income (GNP).

Also read: The 10 poorest countries in the world, all from the African continent, anywhere?

COMPASS
Ratio of Indonesian government debt to GDP of the G20 countries