Indonesia looks to increase foreign debt sales in 2016

Robert Pakpahan, director general of the Indonesian Finance Ministry said his office expected to boost the proportion to 30 percent of total gross bond issuance, an increase from around 24 percent in 2015.

In 2015 alone, the government generated more than Rp 350 trillion (US$25.83 billion) from the domestic market, and has so far sold US-dollar bonds in the global and domestic markets, US-dollar global sukuk (Islamic bonds), euro-denominated bonds in Europe and samurai or yen-denominated bonds in Japan.

Indonesia is a regular issuer of sukuk and earlier this year issued a record breaking $2 billion sukuk achieving a profit rate of 4.325% which achieved a order book of over $6.8 billion.