Investor Presentaiton
Strengthened Private External Debt Risk Management
Debt Burden Indicator (External Debt/GDP) Remains Comparable to Peers Rating
BHINNIKA
Encouraging Corporates Compliance on Hedging Ratio & Liquidity Ratio
External Debt/GDP (%)
Uruguay
Philippines
24,2
24,7
86,1
93,9
76,2
258;
10.2%
22,2
35,3
Indonesia
35,3
36.1
48,7
Colombia
53
■2021F
≤ 3 months
42,7
2020F
53,6
Bulgaria
56,6
2019
56,3
2.260;
89.8%
0
20
40
60
80
100
Source: Moody's Credit View Fundamental Data, July 2020
Regulation on Prudential Principle in Managing External Debt
Phase 1
Regulation Key Points
Jan 1,2015 -
Dec 31,2015
Phase 2
Jan 1,2016 -
Dec 31,2016
Phase 3
Jan 1, 2017 &
beyond
Object of Regulation
Governs all Foreign Currency Debt
Hedging Ratio
< 3 months
> 3 6 months
Liquidity Ratio (< 3 months)
Credit Rating
Hedging transaction to meet
hedge ratio
20%*
20%*
50%
Not applicable
25%**
25%**
70%
Minimum rating of BB-
Must be done
with a bank in
Indonesia
not necessarily be done with a bank in
Indonesia
Sanction
Source: Bank Indonesia
As of Q IV-2015
Applied
Hedging Ratio*
Liquidity Ratio*
306;
12.2%
2.212;
87.8%
167;
6.6%
> 3-6 months
■ Comply
■Not Comply
*Data as of Q1 2020, with total population 2.518 corporates
Source: Bank Indonesia
2.351;
93.4%
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