Indonesia's external debt grew at a slower pace in February amid weaker borrowing from both the public and private sectors, figures from Bank Indonesia showed Monday.
External debt grew 2.7 percent year-on-year to $321.7 billion following 3.6 percent increase in January.
Bank Indonesia said the development of external debt in February remains healthy. However, the bank said it continues to be vigilant about the risks to the national economy.
The bank also said that it will continue to monitor the development of external debt, particularly the private sector external debt.
Public sector external debt in February grew 10.3 percent, which was smaller than the previous month's growth of 12.4 percent.
Private sector external debt declined 4.0 percent, the same rate as the previous month's decline.
Slower growth was led by long-term external debt, when based on original maturity. Based on economic sector, the private external debt position at the end of February was mainly concentrated in the financial, manufacturing, mining, and utility sectors.
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