Indonesia targets raising 211 trillion rupiah in third-quarter bond auctions
|06/30/2020 | 11:22 pm|
Indonesia has set a target of raising 211 trillion rupiah ($14.8 billion) in bond auctions in the third quarter, the finance ministry said on Wednesday, higher than its targets of the two previous quarters.
The first- and second-quarter targets were 180.9 trillion rupiah and 166.4 trillion rupiah, respectively, the ministry said in a statement.
Indonesia typically frontloads its local currency bond sales every year to manage market uncertainty. But this year's ballooning fiscal deficit, fuelled by increased spending for coronavirus relief measures, has forced it to raise much more.
Indonesia is marketing a Samurai bond offering, IFR said on Wednesday.
The government is also in talks with the central bank on how much Bank Indonesia can help in fiscal deficit financing, and at what price.
(Reporting by Gayatri Suroyo; Editing by Clarence Fernandez)