Indonesia raised another Rp 22 trillion (US$1.48 billion) on Tuesday from government bonds to fund the country’s fiscal deficit and the costly fight against the unfolding pandemic, with the central bank participating in the tender. The Finance Ministry received incoming bids of Rp 106 trillion – the second-highest bids volume throughout the year – from both domestic and foreign investors. “The demand for government bonds is being driven by national banks that have ample liquidity and rising participation from foreign investors,” said the ministry’s director for sovereign debt papers, Deni Ridwan, adding that foreign investors made up 33 percent of the incoming bids. “Rising participation from foreign investors showed that their trust in Indonesia’s economic prospects has begun to recover,” he went on to say. The bond serie...