Tuesday, 12 February 2019 15:19

End January, Indonesia`s Reserve Assets Stand at US$120.1 Billion

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Indonesia`s official reserve assets at the end of January 2019 were quite high, at US$120.1 billion.

"The assets were lower than $120.7 billion the end of December 2018," Bank Indonesia (BI) Executive Director for Communications Agusman noted in a statement in Jakarta on Monday.

The position of reserve assets was equivalent to financing of 6.7 months of imports or 6.5 months of imports and servicing of government external debt, well above the international standard of reserve adequacy of three months of imports. BI considers that the position of official reserve assets is able to support the external sector resilience and maintain macroeconomic and financial system sustainability, he remarked.

He noted that the decline in reserve assets in January 2019 was mainly due to the government external debt repayment.

Going forward, BI believes that the official reserve assets remain adequate, supported by confidence in the stability of and upbeat outlook for the domestic economy as well as positive export performance. (ant)

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