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Abstract
Pembiayaan Makan Bergizi Gratis (MBG) berpotensi memperburuk defisit anggaran dan meningkatkan ketergantungan pada utang, khususnya yang bersumber dari luar negeri. Kondisi ini mengharuskan pemerintah mengadopsi strategi inovatif dalam pembiayaan publik. Melalui analisis kebijakan yang dilakukan ditunjukkan bahwa Bilateral Debt Swap adalah alternatif paling feasible melalui pembobotan MDCA dengan negara kreditur seperti Tiongkok yang memiliki posisi strategis dalam peta diplomasi ekonomi Indonesia. Skema ini menawarkan fleksibilitas dalam penggunaan dana serta minim risiko politik dan ekonomi, dibandingkan opsi tri-party atau private debt swap. Setelah mengkaji, tulisan ini merekomendasikan agar Pemerintah melalui K/L terkait melakukan negosiasi dengan mengintegrasikan skema Bilateral Debt Swap pada strategi diplomasi serta pengelolaan utang luar negeri. Namun demikian, strategi ini memerlukan dukungan kerangka regulasi, mencakup tata kelola transparan, pengawasan multistakeholder, serta sinkronisasi kebijakan lintas sektor agar manfaat ekonomi dan sosial dapat dimaksimalkan. Dengan pendekatan yang terstruktur dan berbasis evidence, debt swap for school meal ini berpotensi menjadi model baru diplomasi ekonomi Indonesia yang tidak hanya memperkuat stabilitas fiskal, tetapi juga mendukung investasi jangka panjang pada peningkatan kualitas sumber daya manusia.
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