REPUBLIKA.CO.ID, JAKARTA -- Import credit remains high despite the high of US currency rate. Bank Indonesia (BI) has urged banks to limit their import loans. Based on banking statistic in August 2013, import credit stood at 95.3 percent year on year (yoy). The number reached 67 trillion IDR, compared to 34.3 trillion IDR in same period in the last year.

Value of nonperforming loans (NPL) of import credit decreased 9.5 percent, from 766 billion IDR to 699 billion IDR. Export credit increased strongly by five percent, from 50 trillion IDR in August 2012 to 52.5 trillion IDR in August 2013. Value of NPL of export credit fell 35 percent, from 1.9 trillion IDR to 1.4 trillion IDR.

"Everything must be in line with what we do," Director Department of Monetary Policy in BI, Solihin M Juhro said last weekend.

BI now overcomes the deficit of Indonesia's balance of payment as there is unbalancing between oil consumption and production. Balance of payment deficit is still caused by oil and gas imports. About 70 percent of fuel consumption in Indonesia is still subsidized by government. In fact, domestic oil production still declines.

On the other hand, PT Bank Negara Indonesia (BNI) experienced the lower of import credit up to 10 percent, from 11 billion USD in September 2012 to 10 billion USD in September 2013. Head of International Division in BNI, A Firman Wibowo explained that the strengthening of USD led to decreased import credit.

BNI will continue to seek potential of import credit from its customers as its potential is still huge. Wibowo hopes that customers do not use import credit of foreign banks, but using national banks. BNI's export credit grew 81.9 percent yoy, from 5.4 billion USD in September 2012 to 9.8 billion USD in September 2013. 

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