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Indonesia: Indonesia Plans To Raise US$3.5 Billion Worth External Loans In 2005

The Indonesian government is planning to raise a US$2.5 billion loan from the Consultative Group on Indonesia.

The Indonesian government is planning to raise a US$2.5 billion loan from the Consultative Group on Indonesia. Finance Minister Sri Mulyani Indrawati informed the House of Representatives' Finance Commission that this loan is part of the country's US$ 3.55 billion external borrowing program for the current year. Indrawati further said that Indonesia is planning to borrow US$1 billion in program loans from the World Bank, the Asian Development Bank and Japan.

Other inflows include project loans worth US$915 million from non-CGI lenders. This will be largely in the form of export credits and US$100 million in undisturbed pledges made as aid for last year's tsunami disaster. Indonesia also plans to raise IDR50.9 trillion from domestic sources, including privatizations and bond sales. Indonesia's total outstanding foreign debt, of the end of 2005 was US$61.04 billion. Indonesia's debt-to-GDP ratio had declined to 22.7% at in the 2005, from 42.2% in 2000.

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