ASIATODAY.ID, JAKARTA – Rating agency Moody’s has again maintained Indonesia’s sovereign credit rating at Baa2, one level above investment grade, with a stable outlook on April 16 2024.
Moody’s views this affirmation as being in line with the assessment results that Indonesia’s economic resilience is maintained supported by stable economic growth.
The Governor of Bank Indonesia (BI), Perry Warjiyo, stated that the affirmation of Indonesia’s rating at Baa2 with a stable outlook is a form of international confidence in maintained macroeconomic stability and Indonesia’s positive medium-term economic prospects.
“This international trust is supported by policy credibility and strong policy mix synergy between the government and BI amidst increasing global economic uncertainty,” said Perry in an official statement received on Thursday, April 18 2024.
The credibility of the monetary and fiscal policies pursued by the central bank and government is also believed to support this achievement. Various innovations in monetary policy instruments are considered successful in increasing external resilience as reflected in improvements in a number of indicators, such as current transactions and adequacy of foreign exchange reserves.
“In the future, BI will continue to monitor global and domestic economic and financial developments and increase policy synergy with the government to support sustainable economic growth,” said Perry.
Moody’s projects that Indonesia’s average economic growth in 2024-2025 will remain at pre-pandemic levels, namely around 5%. This average is higher than other countries ranked Baa, namely growing at around 3%. (ATN)
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