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Indonesia’s foreign reserves see upbeat growth

Indonesia recorded 130.2 billion USD of foreign reserves by the end of December 2017, up from 125.97 billion USD in the previous month.
Indonesia’s foreign reserves see upbeat growth ảnh 1Officers arrange money in the storage room at Cash Center BNI, Jakarta. (Photo: ANTARA/Rosa Panggabean)

Jakarta (VNA) -Indonesia recorded 130.2 billion USD of foreign reserves by the end of December2017, up from 125.97 billion USD in the previous month.

The sum was mainly generated byproceeds from the Indonesian government's global bond issuance, tax revenue andexport of oil and gas.

The forex reserves have exceeded thecountry’s needs to finance its foreign debts and matured sovereign notes, Agusman,spokesperson of the Bank Indonesia said in a statement.

He said the figure was capable offinancing 8.6 months of imports, or 8.3 months of imports plus foreign debts, wellabove the adequate international standard of three months.

The Indonesian central bank is optimistic ofbeing capable to preserve stability of domestic macro economy and financialsystem amid the currently positive national economic condition, improvingexport and favourable global financial development, he said.-VNA
VNA

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