SBY welcomes RI rating upgrade
Bagus BT Saragih, The Jakarta Post, Jakarta | Wed, 01/18/2012 8:56 PM
President Susilo Bambang Yudhoyono is welcoming Moody's Investors Service’s upgrade of Indonesia's debt rating, according to his spokesman.
"Moody's rating of Indonesia is clear proof that this country is not run on 'autopilot'," presidential spokesman Julian Aldrin Pasha said on Wednesday on the sidelines of a Cabinet meeting.
"The President announced it as breaking news to Cabinet meeting participants," Julian added.
Critics have said Indonesia has been on autopilot, alleging that the nation lacked leadership and that officials were too busy with their own concerns to serve the people.
Moody's raised Indonesia's local and foreign currency debt ratings one notch, from Ba2 to Ba1, one step below investment grade, with a stable outlook, citing the country's resilient economy, improving debt and foreign reserve levels and favorable economic policy. (nvn)
