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Jakarta Post

Govt to issue retail bonds for economic recovery, vaccines

  • Adrian Wail Akhlas

    Jakarta

PREMIUM
Jakarta   /   Wed, January 27 2021   /  01:00 am
Rupiah banknotes(Shutterstock.com/Maciej Matlak)

The government is looking to raise Rp 10 trillion (US$711.6 million) from a new series of domestic retail bonds to fund the country’s fiscal deficit and COVID-19 vaccination program, the Finance Ministry announced on Monday. “The proceeds will be used to fund the pandemic handling and economic recovery [efforts] including the mass vaccination [program],” financing and risk management director general Luky Alfirman of the Finance Ministry said during the launch of the new bond issue on Monday. The ORI019 bond series has a fixed coupon rate of 5.57 percent per annum and a three-year tenor, with a maturity date of Feb. 24, 2024. The retail bond is available to buy online from Jan. 25 to Feb. 18 and is open to purchase by Indonesian individuals for a minimum investment amount of Rp 1 million and a maximum investment amount of Rp 3 billion. The bond series is tradab...