Jakarta, InfoPublik - Moody's rating agency maintains the Republic of Indonesia's Sovereign Credit Rating at Baa2, one level above investment grade, with a stable outlook.
"The affirmation is a form of international confidence in Indonesia's maintained macroeconomic stability and positive medium-term economic prospects," said Bank Indonesia (BI) Governor Perry Warjiyo in a written statement received on Thursday (18/4/2024).
According to Mr Warjiyo, this international confidence is supported by policy credibility and strong policy mix synergies between the Government and Bank Indonesia amid heightened global economic uncertainty.
"Going forward, Bank Indonesia will continue to pay close attention to global and domestic economic and financial developments, take the necessary policy steps to ensure macroeconomic and financial system stability, and continue to improve policy synergies with the Government to support sustainable economic growth," Perry said.
Moody's views that this affirmation is in line with the assessment that Indonesia's economic resilience is maintained supported by high and stable economic growth. The credibility of monetary and fiscal policies pursued by the central bank and the Government is also believed to support this achievement.
Moody's assesses that various innovations in monetary policy instruments are considered successful in increasing external resilience, which is reflected in improvements in a number of indicators such as current account and adequacy of foreign exchange reserves. (InfoPublik)