REPUBLIKA.CO.ID, JAKARTA - Private foreign debt, particulary that matures in near future, will not hit and press IDR currency against USD. Chief Economist of Danareksa Research Institute, Purbaya Yudhi Sadewa said debt maturity was a process that continuously occured.
"Private sectors surely have prepared USD to pay their debt matures. It won't impact to IDR," Sadewa said on Thursday.
Private foreign debt matures in September 2013 worth 25.7 billion USD, consists of 50 percent of debt and 50 percent of debt repayments. Thus debt is feared to weaken IDR and hits foreign exchange reserves.
In June 2013, Indonesia's foreign exchange reserves worth 98.1 billion IDR or equal to 5.4 months of imports, while private sector debt recorded 131.547 billion USD in May 2013. Sadewa said Bank Indonesia (BI) and government needed to educate private sectors related to private sector debt. Many companies gained debt in USD but produced form of business in IDR and made an imbalance in currency.
Related to strengthening of IDR, global debt issuance or global bonds likes on July 10 is predicted to be continued. On Wednesday, IDR against USD stood at 10,262 in Jakarta Interbank Spot Dollar Rate (Jisdor).
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