Indonesia's external debt position in May 2021 reached US$415 billion, down 0.6% month-to-month (MoM) compared to that in April 2021 of US$417.6 billion.

Head of the Communications Department of Bank Indonesia (BI) Erwin Haryono said the decline in the position of the government's external triggered the improvement. However, if viewed on an annual basis, external debt in May 2021 grew by 3.1% year-on-year (YoY).

"This is lower than the previous month's growth of 4.9% YoY," in a statement in Jakarta on Friday (16/7).

According to Erwin, Indonesia's external debt structure in May 2021 remained under control, as reflected in the ratio of Indonesia's external debt to Gross Domestic Product (GDP) which was maintained at around 37.6%, a decrease compared to the ratio in the previous month of 37.9%.

"The structure of Indonesia's external debt remains healthy, as indicated by Indonesia's external debt which r