The end of 2008 Indonesia Stock debts Compared Achieves 31 Percent GDP

The addition of the stock of debt Indonesia for four years is still smaller than the previous period. Comparison of debt with the gross domestic product (GDP) is also much reduced.

Menkeu Sri Mulyani Indrawati said, the position of debt until the end of 2008 that are currently being audited Financial Agency Check (CPC) reached USD 149.47 billion. It increases the amount of USD 8.61 billion compared to 2004 of USD 139.86 billion.

According Menkeu, the smaller the amount of additional debt rather than on the 2001 to 2004 of USD 17.81 billion. The amount of debt in 2001 reached USD 121.95 billion.

In 2001, Sri Mulyani said, the stock of debt compared to GDP reached 77 percent. Then, the end of 2008 rasionya be reduced 31 percent GDP. ''From any angle, the ratio of debt is not mengkawatirkan,''said Menkeu in meetings with the House Commission XI yesterday (13 / 5).

Menkeu ago comparing the developed countries, like Japan has a debt to 150 percent of GDP. However, economic conditions do not kolaps because most of the debt comes from the alias in the debtor country to its own citizens.

According to Sri Mulyani, the government will learn from the mistakes of the past to manage debt is not accountable and not transparent. We also have a''Handling. Hence, we also request the domestic bond market should be developed,''he said.

On the other hand, the state bond issuance this year will increase from Rp 99.7 trillion to Rp 142.3 trillion. Additional Rp 44.5 trillion could also be replaced with a standby loan if the market can not afford to absorb.

The increase in bond issuance by the state due to changes in the amount of the national budget deficit of Rp 54.1 trillion to Rp 139.5 trillion. ''There are needs that must be fulfilled, especially for fiscal stimulus,''said Director General of Ministry of Finance debt management Rahmat Waluyanto.

A new standby loan will be issuing bonds if the state can not be done. ''For example, there is not enough demand or yield (lopsided results) is high. If this happens, the government can cancel auction. Lack of funds taken from the withdrawal of standby loans,''said Grace.

Standby loan interest rates vary. World Bank, according to Grace, with the commitment of USD 2 billion, offering flowers LIBOR (London Inter-Bank offered Rate) plus 145 basis points and 25 basis points fee.

The head of Ministry of Finance Fiscal Policy Anggito Abimanyu, said standby loan will not be so drawn. ''When the additional bond issuance can be merged in the market, the loan does not need to resort standby,''he said.

Standby loan facility also apply two years. ''So, if not drawn in 2009, can still be used for 2010,''he said.