# Indonesian central bank and fiscal developments

> Live situation record from CLSTR: https://clstr.news/situations/indonesian-central-bank-and-fiscal-developments
> Updated: 2026-09-23T01:23:25.000Z. Sources: 25. Developments: 2.

The Indonesian government completed the repayment of Rp218.3 trillion in Bank Indonesia Liquidity Assistance (BLBI) bond debt to Bank Indonesia as of August 24, 2026. Finance Minister Suahasil Nazara noted that this settlement resolves the debt relationship between the government and the central bank as state institutions, but does not extinguish the state's right to collect outstanding debts from BLBI obligors and debtors from the 1997–1998 financial crisis. Following the conclusion of the BLBI Task Force in late 2024, collection efforts have been institutionalized under the Ministry of Finance through the Directorate General of State Assets and the State Receivables Affairs Committee.

In its September 2026 Board of Governors Meeting, Bank Indonesia maintained the BI Rate at 5.75 percent, with the Deposit Facility rate at 4.75 percent and the Lending Facility rate at 6.5 percent. Governor Destry Damayanti stated the decision aims to stabilize the rupiah amid “significant global financial market uncertainty and high external pressures” and to support an inflation target of 2.5% ± 1% for 2026 and 2027. While inflation rose to 3.19% in August due to volatile food prices—specifically chicken, chili, and rice—the central bank maintains that inflation remains within its target corridor.

Economic indicators show banking credit increased 13.65% year-on-year in August 2026, supported by investment, working capital, and consumption credit. Although undisbursed loans remain high at approximately Rp2,548 trillion, there are signs of increasing private sector credit demand. Additionally, the balance of payments reported a US$0.12 billion surplus for July 2026, recovering from a US$0.45 billion deficit in June, with foreign exchange reserves reaching US$146.5 billion at the end of August 2026. Bank Indonesia projects 2026 GDP growth between 4.9% and 5.7%.

## Claims

- Bank Indonesia maintained the BI Rate at 5.75 percent during the September 2026 Board of Governors Meeting. (corroborated by 18 sources)
- The Deposit Facility rate was maintained at 4.75 percent. (corroborated by 7 sources)
- The Lending Facility rate was maintained at 6.5 percent. (corroborated by 7 sources)
- National inflation rose to 3.19% year-on-year in August 2026, up from 2.88% in July. (corroborated by 5 sources)
- The central bank aims to keep inflation within a target range of 2.5% ± 1% for 2026 and 2027. (corroborated by 4 sources)
- Banking credit grew by 13.65% year-on-year in August 2026. (corroborated by 4 sources)
- Bank Indonesia projects Indonesia's economic growth for 2026 to be between 4.9% and 5.7%. (corroborated by 2 sources)

## Timeline

### 2026-09-23: Bank Indonesia maintains BI Rate at 5.75% amid inflation rise

Bank Indonesia maintained the BI Rate at 5.75% in September 2026 to stabilize the rupiah and manage inflation, which rose to 3.19% in August. Banking credit grew by 13.65% year-on-year.

23 sources. https://clstr.news/cluster/bank-indonesia-expected-to-hold-benchmark-interest-rate-at-575-percent

### 2026-09-22: Indonesia settles Rp218.3 trillion BLBI debt to Bank Indonesia

Indonesia has repaid Rp218.3 trillion in BLBI bond debt to Bank Indonesia, but the government maintains its right to pursue assets and debt collections from original BLBI obligors.

9 sources. https://clstr.news/cluster/indonesia-settles-blbi-debt-to-bank-indonesia-while-maintaining-claims-against-obligors

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Cite as: Indonesian central bank and fiscal developments. CLSTR, https://clstr.news/situations/indonesian-central-bank-and-fiscal-developments