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Indonesia to offer 62.3 billion USD in bonds in H2 to finance coronavirus fight

Indonesia is preparing to offer 900.4 trillion Rp (62.35 billion USD) worth of sovereign debt papers (SBN) in the second half of the year as debt financing swells significantly to fund the country’s coronavirus response, Jakarta Post reported.
Indonesia to offer 62.3 billion USD in bonds in H2 to finance coronavirus fight ảnh 1Workers count rupiah bills at a money changer in Jakarta. (Photo: thejakartapost)

Jakarta (VNA) – Indonesia ispreparing to offer 900.4 trillion Rp (62.35 billion USD) worth of sovereigndebt papers (SBN) in the second half of the year as debt financing swellssignificantly to fund the country’s coronavirus response, Jakarta Postreported.

The Indonesian government had raised 630.5trillion Rp worth of SBN as of June this year, including 2.5 billion USD from athree-tranche global sukuk (sharia-compliant bond) last month, according to the coountry's Finance Ministry’s financing strategy and portfolio director, Riko Amir.

President JokoWidodo signed in June Perpres No. 72/2020, a presidential regulation thatregulates an increase in state spending and a widening state budget deficitamid Indonesia’s fight against the coronavirus pandemic.

The Indonesian government now officiallystates that the 2020 state budget deficit is expected to reach 1.03 quadrillionRp or 6.34 percent of gross domestic product (GDP). Aprevious presidential regulation, Perpres No. 54/2020, which also amended thebudget, stipulated a deficit of 5.07 percent.

The governmenthas again increased its planned spending on Indonesia’s battle against theCOVID-19 pandemic amid plunging tax revenue and a widening state budget deficit.

It is now setting aside 695.2trillion Rp in funds for healthcare and economic stimulusspending to cushion the impact of the outbreak. This is the latest increasefrom the previous allocation of 677.2 trillion Rp, as the government ups itsbudget allocation for labor-intensive industries and regional administrations./.
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