ARTIKEL UTANG LUAR NEGERI

This artikel discussed about Utang Luar Negeri Indonesia and the opinion of Rizal Ramli about it.
Former Coordinating Minister for Economy Rizal Ramli asked the government to cut foreign debt. Over the last four years, Indonesia’s foreign debt reached Rp 400 trillion.

According to Rizal Ramli, one of the efforts pay off the debt by cutting the cost of building an office building and government service vehicles. This way the Japanese had done in the early 1960s.

“The policy was taken bold Japan. They dare to lower currency values in the stock market. If Japan can, why can not we? “Said Rizal Ramli, at Surabaya, Sunday (7 / 6).

Rizal Ramli, Indonesia will become confident independent nation if it meets certain requirements. Among independent from foreign parties who intervene in the preparation of laws and regulations and to safeguard national assets controlled by foreign businessmen. (E1, Guntur Yovinus Wicaksono)

List of Country / Institution Creditors (Giving Foreign Debt) Indonesia’s largest

1. Japanese
45.5% or 29.8 billion USD * or Rp 358 trillion

2. ADB (Asian Development Bank)
16,4% atau 10.8 miliar USD atau Rp 129 triliun

3. World Bank (Bank Dunia)
13.6% or 8.9 billion USD or Rp 107 trillion

4. German
4.7% or 3.1 billion USD or Rp 37 trillion

5. United States
3.7% or 2.3 billion USD or Rp 28 trillion

6. English
1.7% or 1.1 billion USD or Rp 13 trillion

7. State / other institutions
14.6% or 9.6 billion USD or Rp 115 trillion

Data Indonesian Foreign Debt (2001-2009 **)

* 2001: 58.791 billion USD
Additional Debt (5.51 billion USD), Installment Debt + Interest (4.24 billion USD)
* 2002: 63.763 billion USD
Additional Debt (5.65 billion USD), Installment Debt + Interest (4.57 billion USD)
* 2003: 68.914 billion USD
Additional Debt (5.22 billion USD), Installment Debt + Interest (4.96 billion USD)
* 2004: 68.575 billion USD
Additional Debt (2.60 billion USD), Installment Debt + Interest (5.22 billion USD)
* 2005: 63.094 billion USD
Additional Debt (5.54 billion USD), Installment Debt + Interest (5.63 billion USD)
* 2006: 62.02 billion USD
Additional Debt (3.66 billion USD), Installment Debt + Interest (5.79 billion USD)
* 2007: 62.25 billion USD
Additional Debt (4:01 billion USD), Installment Debt + Interest (6.32 billion USD)
* 2008: 65.446 billion USD
Additional Debt (3.89 billion USD), Installment Debt + Interest (5.87 billion USD)
* 2009 *: 65.7 billion USD
Debt (????), additional debt repayments + interest (> 5 billion USD)

* 1 USD = Rp 12,000 (assuming an average) —
Indonesia Debt ** Data as of January 31, 2009. www.dmo.or.id or development of Government Debt 2001-2009

THREE COMPONENTS OF COST TO THE GOVERNMENT AS A borrower Filled

  1. The cost up front (front and fee)
  2. Interest cost (interest) that must be adjusted to London and Obligation Bond Interest Rate (LIBOR)
  3. The cost of commitment (commitment fee) to be paid if the government late (according to an agreed schedule) to do the loan disbursement
Among the three most burdensome costs, the cost front and commitment fees and fees are costs that do not appear or where the flow is clear. Front costs and fees that must be issued by the government or the debtor countries by about 1 percent of the total proposed loan is not clear to what is intended, for all things related to business borrowing costs have found their respective operations. Therefore, the cost in advance for Indonesia was involved in the affairs of foreign debt with the lenders, but very difficult to track and cost the state, may have happened “game” between the parties involved in this process and the World Bank. Therefore, the projects financed by such debt, prior to the loan agreement, has evaporated, and this is according to economic calculations can not be accounted for. As a result, the link between the loans received and objectives of national poverty reduction became very weak and will only benefit a group of people.

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