Bank Indonesia Policy Mix

Strengthened Private External Debt Risk Management Debt Burden Indicator (External Debt/GDP) Remains Comparable to Peers Rating Encouraging Corporates Compliance on Hedging Ratio & Liquidity Ratio External Debt/GDP (%) Uruguay 83.5 86 89.7 259 corporates (10.3%) Hedging Ratio* 146 corporates (5.8%) Philippines Panama Mauritius Kazakhstan Indonesia Colombia 0 20 25 26.2 27.2 35.2 36.5 38 37.7 39.2 39.4 40 56.3 54.9 56.3 80.8 86.7 95.4 ≤ 3 months 2022F 2021F 56.1 53.3 57 2021 60 80 100 120 2264 corporates (89.7%) Liquidity Ratio* > 3-6 months 2377 corporates (94.2%) Source: Moody's Credit View Fundamental Data, August 2021 Regulation on Prudential Principle in Managing External Debt Regulation Key Points Object of Regulation 1 Jan 17 & beyond Governs all foreign currency Debt 299 corporates (11.9%) Hedging Ratio ≤ 3 months > 3-6 months Liquidity Ratio (≤ 3 months) Credit Rating Hedging transaction to meet hedge ratio Sanction 25% 25% 70% Minimum rating of BB- (State-owned Enterprises) Must be done with a bank in Indonesia Applied Source: Bank Indonesia ■Comply 2224 corporates (88.1%) Not Comply *Data as of Q1-2021, with total population 2.,523 corporates Source: Bank Indonesia 59

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