The central bank has boosted its holdings of government bonds to 23.1% of the total outstanding amount, versus 22.9% owned by overseas investors, according to official data compiled by Bloomberg.
The latest figures may sharpen the focus on the central bank’s bond-buying program, a tool that some say is likely to erode its autonomy and reduce the government’s fiscal discipline. The increase in holdings is"a reflection of the greater role that Bank Indonesia has been playing in stabilizing the government debt market,” said Wellian Wiranto, an economist at Oversea-Chinese Banking Corp. in Singapore.
Foreign ownership of rupiah sovereign debt has dropped from as high as 39% last year as rising Treasury yields reduce the allure of emerging-market assets. Indonesia’s government has sold fewer bonds than its target in its last five auctions of non-Islamic debt.
Msia to follow suit..if we as a nation don't clean up our act..Get rid of klepto politicians..
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