FITRA names 16 largest foreign debt absorbers

The Jakarta Post, Jakarta | National | Wed, July 17 2013, 10:25 PM

The Indonesian Forum for Budget Transparency, or Fitra, released a list of 16 state institutions on Wednesday that have absorbed the majority of Indonesia's foreign debt.

Fitra investigation and advocacy director Ucok Sky Khadafi said as quoted by Kontan.co.id that of May this year Indonesia for debt had reached Rp 2,036 trillion (US$203.6 billion), up from Rp 1,850 trillion in December 2012.

The 16 state institutions that had absorbed the bulk of this foreign debt are Finance Ministry (Rp 8.3 trillion), the National Development Planning Ministry/the National Development Planning Board (Rp 2.8 trillion), Defense Ministry (Rp 2.1 trillion), Public Works Ministry (Rp 1.5 trillion), state-owned electricity company PT PLN (Rp 567.2 billion), Transportation Ministry (Rp 438.6 billion), Home Ministry (Rp 204.1 billion), Education and Culture Ministry (Rp 86.1 billion), Health Ministry (Rp 81.1 billion), Meteorology and Geophysics Agency (Rp 72.9 billion), the National Coordinating Agency for Land Survey and Mapping (Rp 15.7 billion), Communication and Information Technology Ministry (Rp 9.4 billion), Agriculture Ministry (Rp 8.7 billion), state-owned oil and gas company PT Pertamina (Rp 3.3 billion), Religious Affairs Ministry (Rp 2.5 billion), and Maritime Affairs and Fisheries Ministry (Rp 70.3 million).

"This means that the foreign debt has been spent mostly for construction projects, which is unproductive in terms of paying down both the principal of the debt and the interest," he said. (fan

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