Jakarta. Indonesia’s external debt rose to $437.9 billion in February 2026, as stronger foreign inflows into Bank Indonesia (BI) instruments lifted public sector borrowing, even as private debt continued to decline.

Data from BI showed the figure increased from $434.9 billion in January, with annual growth accelerating to 2.5%, up from 1.7% in the previous month.

Anton Pitono, BI’s Director of the Communication Department, said the increase was primarily driven by public sector debt, particularly the central bank, amid foreign capital inflows into monetary instruments such as Bank Indonesia Rupiah Securities (SRBI). Meanwhile, private external debt edged lower.

“Indonesia’s external debt structure remains sound, supported by prudent management principles. This is reflected in the external debt-to-GDP ratio of 29.8%, as well as the dominance of long-term debt, which accounts for 84.9% of total external debt,” Anton said in a statement on Wednesday.