Analisis Ambang Batas (Threshold) Rasio Utang Luar Negeri Indonesia ‎Serta Dampaknya Terhadap Perekonomian

Erni Setiawati, Siti Rohmah, Nadiya Yunan, Andi Fani Firawati

Abstract


This study aims to calculate the magnitude of Indonesia's external debt ratio indicators, and analyze and compare these ratio indicators with the provisions of the World Bank, IMF and Ministry of Finance of the Republic of Indonesia. This study also aims to determine whether Indonesia's external debt is over-borrowing exceeding the threshold, and analyze the impact on Indonesia's macroeconomy.

Type of quantitative research, research population of Indonesia's external debt statistics, with a sample of external debt ratio indicator data for the 2018-2022 period. Data collection techniques use documentation techniques sourced from secondary data. The variables studied are external debt expense ratio indicators; namely Debt to GDP Ratio (DGDP), Debt to Export Ratio (DER), Debt Service Ratio (DSR), and Foreign Exchange Reserves to Short-Term External Debt Ratio (FXR / STED). Technical data analysis using mathematical methods with formulas of external debt ratio indicators.

The results of the study concluded that the value of DGDP, DER, DSR, and FXR/STED EXTERNAL DEBT Indonesia for the period 2018 – 2022 did not exceed the threshold, meaning that the Indonesian state is not a country that is at the level of over-borrowing, and Indonesia is considered capable of managing external debt and maintaining economic stability.

Keywords


ratio; external debt; ‎threshold; over-borrowing

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