Jakarta. The Indonesian government plans to raise as much as Rp 8 trillion ($657 million) in a bond auction set for Tuesday, of which proceeds would be used to finance this year’s state budget deficit.
The government will offer six series of bonds to investors, with maturities from 2015 to 2044, the Finance Ministry said in a statement on Friday.
Indonesia’s debt markets have seen some outflows recently, as overseas investors sell high-yielding but risky assets in emerging markets such as Indonesia’s on the back of a strengthening US dollar.
Heightened political tensions in Indonesia, ahead of Preside-elect Joko Widod’s inauguration on Oct. 20, have also added to investors’ concerns.
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