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Jakarta Post
The Jakarta Post
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S&P to lift RI credit rating by one notch, Luhut claims

  • Anton Hermansyah
    Anton Hermansyah

    The Jakarta Post

Jakarta | Fri, October 20, 2017 | 08:59 pm
S&P to lift RI credit rating by one notch, Luhut claims Coordinating Maritime Affairs Minister Luhut Pandjaitan (JP/Wendra Ajistyatama)

Global credit rating agency Standard & Poor's (S&P) will increase Indonesia's sovereign credit rating by one notch to BBB from the current BBB- next year, Coordinating Maritime Affairs Minister Luhut Pandjaitan claimed on Thursday.

Luhut said he had met with S&P president John Berisford and discussed the country’s rating on the sidelines of the World Bank-International Monetary Fund annual meeting in New York last week.

"We talked about one hour, [and I asked Berisford] why they did not raise the rating to BBB," Luhut said during a seminar at the Police Staff College (PTIK) in Jakarta.

He added that S&P did not upgrade the Indonesian rating because it was worried about the increasing radicalism in Indonesia.

"I told the S&P [president] that the radicalism in Indonesia was caused by poverty and that we need more investment to tackle the poverty. If you do not increase the rating, you help radicalism grow in Indonesia," he said.

Luhut said later that an S&P official had told him that the company would give Indonesia a BBB rating. (bbn)

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