- VIVAnews/Tri Saputro
VIVAnews - Amid the economic downturn that gripples the United States, the Indonesian government will still issue global bonds to finance the budget. The government is also assessing chances for the extension of foreign loans which will fall due in no time.
"It seems that we will choose global sukuk bonds," said Finance Minister Agus Martowardojo on Wednesday, August 10.
The ratio of foreign ownership in state securities (SBN) is quite high. The selection of bonds is also a measure of product diversification. Global sukuk bonds issuance is scheduled to take place in the second half of 2011.
Earlier, global outlook worsened impacting the composite share price index (IHSG) in the Indonesia Stock Exchange, due to selloff in the past few days.
However, Agus believed, the fall in stock prices was only part of market correction taking into account sound economic fundamentals.
The US and Europe have seen debt crisis within the past couple of years while Indonesia, said Agus, still manages to control debts at between 25 and 26 percent of the GDP. Given fiscal issue, the deficit is maintained at 2 percent.
"From the fiscal side, we are in a quite difficult situation. If it is to be adjusted, it would be 2.1 percent. God willing, in 2012 it will be below 2 percent," he said.
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