Moody's Upgrades Indonesia's Outlook to Positive

medcom.id, Jakarta: Moody's Investors Service has upgraded Indonesia's outlook to positive from stable.
 
Moody's has affirmed Indonesia's Baa3 issuer rating, Baa3 senior unsecured bond ratings, and (P)Baa3 senior unsecured MTN program rating.
 
"Indonesia's vulnerability to external shocks is declining somewhat and is expected to continue to do so, as a result of measures fostering narrower current account deficits, higher foreign exchange reserves, and a slower rise in private sector external debt," Moody's said in a press release on Wednesday.

"Indonesia's lengthening track record of macroeconomic stability and fiscal discipline, together with its measured but ongoing progress on structural economic, fiscal and regulatory reforms, suggest that policy effectiveness is improving," Moody's continued.
 
Moody's maintained Indonesia's outlook at stable last month.
 
"The revision of the rating outlook is a continued acknowledgement from international organizations on Indonesia’s achievement in maintaining macroeconomic and financial system stability to provide conducive environment for a sustainable economic growth, despite global and domestic economic challenges," Bank Indonesia Governor Agus Martowardojo stated.
 
 
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