The position of official reserve assets was equivalent to finance 10.1 months of imports or 9.7 months of imports and servicing government’s external debt.
"Well above the international adequacy standard of three months imports," said Bank Indonesia (BI) Communication Department Head Erwin Haryono in a press release on Wednesday.
According to the BI official, the central bank considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.
The decline in official reserve assets in March 2021 was primarily influenced by the government’s external debt payments in accordance with the payment maturity pattern.
Moving forward, BI views that the official reserve assets remain adequate, supported by the stability and solid domestic economic outlook, in line with the policy responses to nurture economic recovery.