RI Debt Penetrates Rp 7,000 Trillion, What is Sri Mulyani as not to go bankrupt like Sri Lanka?
JAKARTA, KOMPAS.COM – The Indonesian governments debt has penetrated Rp. 7,000 trillion at the end of February 2022. Quoted from our APBN, data per 28 February stated that the state debt was recorded at Rp 7,014.58 T.
Even so, the government said this debt position was still maintained within safe and reasonable limits, and under control.
AHEAD, WHAT WILL BE BUILD?
Minister of Finance Sri Mulyani Indrawati even said that the debt ratio to the GDP of the Republic of Indonesia is still smaller compared to other countries ASEAN, G20, and countries around the world.
To maintain the health of the state budget, the debt ratio (Indonesia) includes relatively low measured from ASEAN countries, the G20, and the rest of the world, said Sri Mulyani in the Youtube show of the Financial System Stability Committee quoted by Kompas.com, Friday (15/4/2022).
MULYANI?
Even so, this state treasurer remains wary of a spike in debt Indonesia. Sri Lankas failure to pay was also Sri Mulyanis spotlight.
Just so you know, Sri Lanka announced it would default on its external debt 51 billion US dollars or equivalent to Rp. 732 trillion (exchange rate of Rp 14,371).
COUNTRY
Default announced as last step after Sri Lanka running out of foreign exchange to import the basic goods needed public.
We still take care of this very carefully and prudently. We see worldwide pressure on countries to increase, like one country that is Sri Lanka, we will see the side how to maintain (debt portion), explained Sri Mulyani.
So, what is Sri Mulyanis strategy so that RI does not fail to pay like this? Sri Lankan?
Sri Mulyanis Strategy
This woman who is affectionately called Ani admits that she will continue to manage debt in a prudent manner.
He will calculate/calculate the number, tenor, and composition of the eye money from the withdrawal of debt through the issuance of government bonds.
There have been several prudent debt management steps prepared, both for this year and next year.
This step is prepared to achieve the target of pressing fiscal consolidation deficit below 3 percent by 2023.
MULYANI: WE WILL TAKE CARE…
WHAT WILL BE DOING IN 2022?
In 2022, this former World Bank Managing Director comes first optimizing the Excess Budget Balance (SAL) from the Excess Funding Remaining Budget (SiLPA) 2021 instead of attracting new debt.
In addition, utilizing the burden-sharing cooperation scheme (burden sharing) with Bank Indonesia (BI). The scheme of joint responsibility contained in the Joint Decree (SKB) I and SKB III which are still continues until 2022.
Until February 2022, BI has purchased government bonds for Rp. 8.76 trillion based on the Joint Decree (SKB) I, with details purchase of IDR 6.06 trillion of SUN and IDR 2.70 trillion of SBSN.
THAN OTHER DEVELOPING COUNTRIES
Through these schemes, the withdrawal of government debt has been reduced around Rp 100 trillion in March 2022 from the original target.
We will reduce issuance (issuance) of debt by using SAL. Until March, the decrease (debt issuance) was Rp. 100 trillion, he said he.
Previously, debt withdrawals had also fallen 66.1 percent in February 2022. Realization of financing through debt issuance in that month IDR 92.9 trillion or 9.5 percent of the APBN target of IDR 973.6 trillion. Financing shrank from Rp 273.8 trillion in February last year 2021.
COMMODITIES INCREASE SO THE WAY OUT?
In more detail, the issuance of Government Securities (SBN) net of up to February 2022 amounting to Rp 67.7 trillion or 6.8 percent of the target Rp 991.3 trillion. Issuance -75.1 percent of IDR 271.4 trillion in February 2021.
Then, net loans reached Rp 25.2 trillion or grew 954.4 percent. The shrinking debt financing has a positive impact on the yield position yields amidst global financial market uncertainty.
INVESTMENT GRADE, STABLE PROSPECT
