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Jakarta Post

RI regains long lost S&P rating

  • Grace D. Amianti and Prima Wirayani

    The Jakarta Post

PREMIUM
Jakarta   /   Sat, May 20, 2017   /  09:00 am
The Jakarta Post Image
Gearing up – A worker monitors the uploading process of a container at the Tanjung Perak port in Surabaya, East Java. (thejakartapost.com/Wahyoe Boediwardhana)

It took exactly 20 years for Indonesia — since the 1997 Asian financial crisis — to fully regain its investment grade status, as Standard and Poor’s (S&P) followed on Friday two other global rating agencies in awarding such an influential rating to the country. S&P Global Ratings lifted Indonesia’s sovereign rating to BBB- from BB+ with stable outlook, based on assessments of the country’s improved budget and the economic and financial policy settings that had become “more predictable.” “The government’s new focus on realistic budgeting has lowered the risk that budget deficits will widen significantly when government revenue disappoints,” the agency wrote in its statement. S&P saw that the country had created effective policy-making in recent years to promote sustainable public finances and balanced economi...