Indonesia Raises IDR 11 Trillion in Biweekly State Sukuk Auction; Below Indicative Target

The Government of Indonesia has raised IDR 11 trillion from its biweekly auction of State Shariah Securities (SBSN), also known as State Sukuk, held on the 10th of August 2021, according to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance. The amount raised was slightly below the indicative target of IDR 12 trillion, and lower than the IDR 13.15 trillion raised in the previous auction held on the 27th of July 2021. Total incoming bids of the latest auction amounted to IDR 51.66 trillion, which was lower than the previous auction’s incoming bids of IDR 56.693 trillion.

Why it Matters?

The funds obtained in the State Sukuk auction will be used by the Government to fulfil part of it...