BI: S&P Rating reflects global community’s confidence on Indonesia’s economy

JAKARTA (TheInsiderStories) – Bank Indonesia has welcome the decision by Standard & Poor’s late last week to improve Indonesia’s rating to investment grade. The rating grade decision reflects recognition of the international community over Indonesia’s achievement in maintaining economic stability.

“This recognition has confirmed further the acknowledgement of the international community on Indonesia’s achievement in maintaining macroeconomic and financial system stability as well as supporting sustainable economic growth amidst uncertainty in the global conditions,” Bank Indonesia Governor Agus D.W. Martowardojo said in a statement.

So far, three major rating agencies have acknowledged investment grade status for Indonesia.

The optimism on the development of the Indonesian economy is also shared by market communities as well as related stakeholders, BI said.

“In this regards, Bank Indonesia will continue to maintain macroeconomic stability to support the continuation of structural reforms taken by the Government and the development of a sustainable and inclusive economic growth,”  the BI Governor Martowardojo said.

On May 19, 2017, S&P Global Ratings raised its long-term sovereign credit ratings on the Republic of Indonesia to ‘BBB-‘ from ‘BB+’. The outlook is stable.

“We also raised our short-term sovereign credit ratings on Indonesia to ‘A-3’ from ‘B’ and our ASEAN regional scale long-term rating to ‘axA-‘ from ‘axBBB+’. In addition, we affirmed the short-term ASEAN regional scale rating at ‘axA-2’,” S&P said. (*)