Indonesia's COVID-19 Vaccination and Economic Resilience Strategy
Stronger Fundamentals Facing the Headwinds
Inflation Rate (%)
Inflation above the target range, but below the
1998
projection
2008
12.1
Nov 2022
5.71 (yoy)
1998
82.4
2008
21 Dec 22
IDR Movement (%)
IDR depreciated year-to-date
-197
Foreign Reserves (USD bn)
Significantly higher than 1998 & 2008, ample to cover
5.60 months of import and external debt repayment
1998
17.4
2008
50.2
-35
-8.56 (ytd)
Nov 2022
-300
-200
-100
0
134.0
1998
Non-Performing Loan/NPL (%)
NPL level (gross) is below the maximum threshold of 5%
30
More Liquid Market (%)
In the markets, the IndONIA rate is in line with the higher BI7DRR and
strengthening the monetary operations strategy of Bl
62
2008
3.8
Oct 2022
2.72
0 5
10
15
20
20
External Debt (Public &
Private) to FX Reserve Ratio
Significantly lower than 1998 crisis
25
30
30
35
40
Government Debt/GDP
Consistently well-maintained
10.5
4.80
1998
2008
21 Dec 2022
External Debt/GDP
Significantly lower than 1998 crisis
8.6x
3.1x
3..0x
100.0%
27.4%
38.7%
116.8%
33.2%
30.1%
2008
Oct-2022
2008
Nov 2022
2008
Q3-2022
1998
1998
1998
73
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