According to Bank Indonesia (BI), the position of official reserve assets was equivalent to finance 7.8 months of imports or 7.5 months of imports and servicing government’s external debt.
"Well above the international adequacy standard of three months imports," BI said in a press release issued on Friday, February 7, 2020.
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 increase of official reserve assets in January 2020 was primarily underpinned by government’s global bond issuance, oil & gas foreign exchange receipts, as well as other foreign exchange receipts," it added.
Moving forward, the central bank views that the official reserve assets remain adequate, supported by the stability and solid domestic economy prospect.