Indonesia is not the only country with rising debts. According to the World Bank report entitled International Debt Statistics (IDS) 2021 or International Debt Statistics, Indonesia ranks 7th with the highest debt among the low and middle income group of countries.

Quoted from the World Bank report on Friday (October 1, 2021), China took first place, then Brazil second, India third, Russia fourth, Mexico fifth, Turkey sixth, eighth Argentina, ninth South Africa and finally Thailand. The external debt recorded by the World Bank in the IDS 2021 is up to 2019.

According to World Bank records, Indonesia’s external debt in 2019 was $ 402.08 billion. That number increased slightly (5.9%) from the foreign debt position in 2018, which was $ 379.58 billion.

However, compared to the position of Indonesia’s external debt in 2019 compared to the previous 10 years, namely 2009, there was an increase of up to 124%. Indonesia’s external debt in 2009 was $ 179.40 billion.

The World Bank found that Indonesia’s external debt-to-export ratio was 194% in 2019. The ratio of debt to gross national income (GNI) or gross national income is now 37%. The ratio of Indonesia’s external debt to gross national income from year to year is actually close to this level, namely 34% in 2009, 37% in 2015, 35% in 2016, 36% in 2017 and 37% in 2018.

Overall, the World Bank recorded that the total external debt of these countries, with the exception of China, reached $ 3.6 trillion, up 4.6% from 2018.

The accumulated debt of these countries excluding China accounts for nearly 60% of the total external debt of all lower-middle-income countries except China. China’s external debt now accounts for 26% of the total external debt of low- and middle-income countries.

List of 10 countries with the most debts on the next page.