REPUBLIKA.CO.ID, JAKARTA -- The International Monetary Fund (IMF) confirmed that Indonesia does not have a debt to the IMF. Head of Representative Office of the International Monetary Fund (IMF) for Indonesia, Benedict Bingham, said the debt recorded in the statistics of ‘External Debt (ED) Indonesia’ is the allocation of Special Drawing Right (SDR).
"(There are) a lot of statements that says about Indonesia's debt to the IMF. Indonesia currently has no loans to the IMF," said Bingham, Wednesday (29/4).
He said that, under IMF Article of Agreement, the IMF allocated SDRs to all member countries in accordance with the SDR quota of each country. This is done to increase their liquidity.
Currently, Indonesian SDR allocation is 1.98 billion, or about 2.8 billion US dollars. The SDR allocation was considered as a foreign exchange reserve assets of Bank Indonesia (BI) which at times could be used to strengthen the foreign exchange reserves.
"When SDR allocated, no change in clean debt at the IMF members," he said.
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