Bank Indonesia

09/07/2021 | News release | Distributed by Public on 09/06/2021 22:17

Official Reserve Assets August 2021 Increased

No.23/229/DKom

Indonesia's official reserve assetsstood at USD144.8 billion as of end-August 2021, increasedfromUSD137.3billion as of end-July 2021. The position of official reserve assets was equivalent to finance 9.1months of imports or 8.7 months of imports and servicing goveranment's external debt, and well above the international adequacy standard of three months imports. Bank Indonesia considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.

The increase ofofficial reserve assetsin August2021 was mainly due to the additional IMF Special Drawing Rights (SDR)[1]allocation of 4.46 billion SDR or equivalent to 6.31 billion US dollars to Indonesia. In 2021,the IMF raisesthe SDR allocation and distributesit to all member countries, including Indonesia, in proportion to their respective quotas. The general SDR allocation is aimedto support global economic resilience and stability affected by the Covid-19 pandemics,build confidence, as well as strengthen global reserves. The allocation of SDRs was distributed to IMF member countries at no cost.

Moving forward, Bank Indonesia views that the official reserve assets remain adequate, supported by the stability and solid domestic economic outlook, in line with the policy responsesto stimulate economic recovery.

Jakarta, 7th September 2021

Head of Communication Department

Erwin Haryono

Executive Director

[1]The SDR is an international reserve asset created by the IMF and can be used for financial transactions between - member countries