Indonesia posts 130 bln USD foreign reserves in December

Indonesia posts 130 bln USD foreign reserves in December (Source: Xin Hua Net)

 

JAKARTA, Jan. 8 (Xinhua) — Indonesia posted 130.20 billion U.S. dollars of foreign reserves by the end of December last year, up from 125.97 billion U.S. dollars it recorded a month earlier, an Indonesian central bank official said here on Monday.

The figure was mainly contributed by proceeds from government’s global bond issuance, tax revenue and export of government’s share oil and gas.

“The forex reserves were exceeding the nation’s needs to finance its foreign debts and the matured sovereign notes,” Agusman, spokesperson of Indonesian central bank, Bank Indonesia said in a statement.

He added that the forex reserves in December was capable to finance 8.6 months of imports, or 8.3 months of imports plus foreign debts, far above the adequate international standard of three months.

With such an amount of forex reserves, the central bank was greatly optimistic of being capable to preserve stability of the nation’s macro economy and domestic financial system amid the currently positive national economic condition, improving export and favoring global financial development, he said.

Source :

Xin Hua Net

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