Illustrative image (Source: Internet) Jakarta (VNA) - Indonesia`s foreign debts rose 7 percent year-on-year to 372.9 billion USD in early December, according to Bank Indonesia (BI). Of the figure, the government and the BI’s debts were worth 183.5 billion USD while debts of private and state companies stood at 189.3 billion USD. However, the BI believed that the structure of the country`s foreign debts remains healthy, with the ratio of foreign debts to the national GDP remaining at 34 percent, which is still better than the average ratio of peers. In addition, 84.8 percent of the country`s foreign debts is long-term, including 180.5 billion USD in government debts. As of early December 2018, the Indonesian government’s foreign debts increased by 5.1 billion USD from October due to the inflow of foreign capital to the domestic treasury notes market in November. The private sector`s foreign debts in November 2018 rose by over 10 percent to 7.1 billion USD … [Read more...] about Indonesia’s foreign debts still safe: Bank
Rwanda foreign debt
Indonesia: foreign debt structure remains healthy
The central bank of Indonesia (BI) (Photo: Jakarta Post) Jakarta (VNA) - The central bank of Indonesia (BI) has assessed the country’s foreign debt structure will remain healthy as the foreign debt to national gross domestic product (GDP) ratio remained stable at 34 percent as of late September 2018. The figure is still below the maximum limit set at 60 percent of the GDP in Law No. 17 of 2003. Foreign debt rose 5.3 percent to 360.5 billion USD year on year at the end of October 2018, Indonesia’s News Agency Antara quoted the central bank’s statement as saying. The debts increased by 0.19 percent as compared to 359.7 billion USD recorded in September 2018. Indonesia’s foreign debts at the end of October 2018 comprised 178.3 billion USD of government and central bank debt. The government`s foreign debts rose by 3.3 percent year on year to 175.4 billion USD, while the central bank’s foreign debts reached 2.9 billion USD. The private sector’s … [Read more...] about Indonesia: foreign debt structure remains healthy
Vietnam’s increasing foreign debts a cause for worry
In a recent report to the National Assembly (NA), the government said foreign debt is currently 49.7 percent of GDP, within touching distance of the cap it has set of 50 percent. It has increased from last year’s 45.2 percent, and the government expects it to rise to 49.9 percent next year, the report said. The debt figure is comprised of government debts, government-guaranteed debts and companies’ debts. “Companies’ debts account for half of total national debts and have been increasing rapidly,” Minister of Finance Dinh Tien Dung said at the NA meeting on Monday. They increased by 42 percent last year, partly because of the $4.8-billion loan Thai Beverage (ThaiBev) took to acquire Vietnam’s largest brewery, Saigon Beer Alcohol Beverage Corp (Sabeco). Since ThaiBev borrowed the money from a Thai bank through its subsidiary VietBev, the loan is considered part of Vietnam’s foreign debt. Analysts warn Vietnam’s credibility would take a hit … [Read more...] about Vietnam’s increasing foreign debts a cause for worry
Foreign debt surge attributed to enterprises
Foreign debt surge attributed to enterprisesBy Van Ly Minister of Finance Dinh Tien Dung answers NA deputies’ questions - PHOTO: QUOCHOI.VN HANOI – Local enterprises’ foreign loans have sent the country’s foreign debt soaring in recent years, said Minister of Finance Dinh Tien Dung at a question-and-answer session before the National Assembly (NA) today, October 30. Answering a question on the sharp increase in the country’s foreign debt, Minister Dung said that under the Law on Public Debt Management, foreign debts comprise Government debts, Government-guaranteed debts and enterprises’ debts. Recently, the Government has adopted multiple solutions to settle foreign debts. As a result, the foreign debt-to-gross domestic product (GDP) ratio has been cut from 60% in 2011 to 40% at present. Of which, Government debts currently account for 21% of the GDP, dropping from 24% in 2011, while the Government-guaranteed debt-to-GDP ratio dropped to … [Read more...] about Foreign debt surge attributed to enterprises
Private sector contributes to Vietnam’s swelling foreign debt: Deputy PM
The Hanoitimes - While government debt is declining fast, debt of the private sector is increasing, according to Deputy Prime Minister Vuong Dinh Hue. Speaking on the issue of Vietnam's increasing foreign debt at the ongoing National Assembly gathering on October 24. Deputy PM Vuong Dinh Hue said while government debt is fast declining, debt of the private sector is increasing. Illustrative photo. Last year, Thaibev, through its wholly-owned Vietnam unit Vietnam Beverage, purchased stake at Saigon Beer Alcohol Beverage Corporation (Sabeco) in a deal worth nearly US$5 billion. As a Vietnamese enterprises, Vietnam Beverage had to secure loan to finance the deal. This debt was taken into account of the country's foreign debt, however, Vietnamese government is not obliged to pay this debt, Hue stressed. Similarly, Vingroup, Vietnam's largest privately-run conglomerate, secured loans from international financial markets to develop its automobile … [Read more...] about Private sector contributes to Vietnam’s swelling foreign debt: Deputy PM