Jakarta: Indonesia’s official reserve assets increased to USD135.1 billion at the end of July 2020 from USD131.7 billion at the end of June 2020.
The position of official reserve assets was equivalent to finance 9.0 months of imports or 8.6 months of imports and servicing government’s external debt.
"Well above the international adequacy standard of 3 months of imports," Bank Indonesia (BI) Communication Departement Head Onny Widjanarko said in a media release on Friday.
The central bank considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.
The increase of official reserve assets in June 2020 was mainly underpinned by the government’s global bond and external debt withdrawal.
Going forward, the central bank views that the official reserve assets remain adequate, supported by the stability and solid economic outlook, in line with the policy response to nurture economic recovery.