This study aims to determine the effect of short-term and long-term exchange rate, imports and GDP against Indonesia's foreign debt during the period 1985-2016. In this study, the data used is secondary data obtained from Bank Indonesia, the World Bank and Badan Pusat Statistik Indonesia. The analysis in this study using the approach of Vector Error Correction Model (VECM). The results of analysis using VECM approach shows that the overall long-term independent variables namely GDP, exchange rate and imports showed a significant to external debt as the dependent variable. Where the exchange rate and GDP have a negative effect on external debt and imports have a positive impact on the ULN. In the short term the overall independent variables namely GDP, exchange rate and imports also have an effect on the dependent variable external debt