March 19, 2020 / 10:44 AM / 15 days ago

Indonesia to raise more from rupiah, foreign currency bonds

JAKARTA, March 19 (Reuters) - Indonesia will finance the expected widening in 2020 budget deficit by issuing more rupiah and foreign currency bonds, Luky Alfirman, head of the finance ministry’s financing department, told an investors conference call.

Alfirman said the government would also use carryover cash from 2019 of 136 trillion rupiah ($8.55 billion) and might borrow from multilateral banks to cover for the widening deficit. The government will look for the right time for its planned sales of bonds in U.S. dollar, Japanese yen and euro.

Officials have said they expected 2020 budget deficit to widen to 2.5% of GDP, though Deputy Finance Minister Suahasil Nazara told the same call the government was open to a deficit even bigger than that. ($1 = 15,900.0000 rupiah) (Reporting by Tabita Diela, Gayatri Suroyo and Fransiska Nangoy; Editing by Toby Chopra)

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