Indonesia’s foreign reserves see upbeat growth
Indonesia recorded 130.2 billion USD of foreign reserves by the end of December 2017, up from 125.97 billion USD in the previous month.
Officers arrange money in the storage room at Cash Center BNI, Jakarta. (Photo: ANTARA/Rosa Panggabean)Jakarta (VNA) - Indonesia recorded 130.2 billion USD of foreign reserves by the end of December 2017, up from 125.97 billion USD in the previous month.
The sum was mainly generated by proceeds from the Indonesian government's global bond issuance, tax revenue and export of oil and gas.
The forex reserves have exceeded the country’s needs to finance its foreign debts and matured sovereign notes, Agusman, spokesperson of the Bank Indonesia said in a statement.
He said the figure was capable of financing 8.6 months of imports, or 8.3 months of imports plus foreign debts, well above the adequate international standard of three months.
The Indonesian central bank is optimistic of being capable to preserve stability of domestic macro economy and financial system amid the currently positive national economic condition, improving export and favourable global financial development, he said.-VNA
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