Hadging BUMN, The Duty of Kementrian BUMN
By : Wiyanto Dan Aldo Bella Putra | Monday, August 21 2017 - 21:04 IWST
INDUSTRY.co.id - Jakarta-Ministry of State-Owned Enterprises (SOEs) encourages SOEs under its control to follow hadging or hedging procedures of all foreign debt transactions.
"We will accompany SOEs to conduct transaction of hadging, so that SOEs get comprehensive comprehension in order to improve financial performance, and stabilize exchange rate," said Sahala Lumban Gaol, a special staff of minister of SOEs in Jakarta, Monday (8/21/2017).
According to him, the newly signed hadhing with Bank Indonesia (BI) will continue to be developed and continued. Indeed, the encouragement of SOEs for hadging all become homework of the Ministry of SOEs.
"I hope the Ministry of SOEs and BUMM banks can be continued as well as cooperation with OJK." There needs to be initiative and creativity," he said.
Previously, Bank Indonesia launched Indonesia Foreign Debt at the end of second quarter of 2017 at USD335.3 billion, growing by 2.9% (yoy), down from 3.2% (yoy) in the first quarter of 2017. The growth of ED is also much slower when compared to the same period in 2016 which was 6.8% (yoy).
Based on the group of borrowers, the growth of ED is influenced by the slow growth in public sector debt and the continued contraction of private sector external debt growth.
At the end of Q2 / 2017, public sector external debt was recorded at USD170.3 billion (50.8% of total external debt) or grew 7.3% (yoy), down from 10.0% (yoy) in the preceding quarter. On the other hand, private sector external debt was recorded at USD165.0 billion (49.2% of total external debt), or down -1.4% (yoy).