Indonesia’s foreign debts hit 408.6 bln USD hinh anh 1Rupiah banknotes (Photo:

Jakarta (VNA) Indonesia’s foreign debts in the second quarter of 2020 were recorded at 408.6 billion USD, consisting of debts of the public and private sectors, according to the Bank of Indonesia (BI).

The country’s public foreign debt by the end of the second quarter 2020 was recorded at 196.5 billion USD or grew by 2.1 percent year-on-year. The hike in the public foreign debt was in line with the issuance of the Global Sukuk (Islamic bonds) to meet the payment target.

Meanwhile, the private sector’s debt grew by 8.2 percent to 209.3 billion USD.

Indonesia's Ministry of Finance recently said that the country had raised  2.5 billion USD from the Global Sukuk bond issuance to support the fight against COVID in June.

Indonesia's economy shrank 5.32 percent in the second quarter of 2020, the steepest decline since 1999, due to the impact of the COVID-19 crisis. The Indonesian government expects the country's economy to contract by 0.4 percent or grow 1 percent this year./.