Indonesia Raises IDR 12.5 Trillion in State Sukuk Auction; Exceeds Target Amid COVID-19 Surge  

The Government of Indonesia has raised IDR 12.5 trillion from its biweekly auction of State Shariah Securities (SBSN), also known as State Sukuk, held on the 29th of June 2021, according to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance. The amount raised exceeded the indicative target of IDR 11 trillion, and was higher than that awarded from the previous auction, which amounted to IDR 10 trillion. Total incoming bids amounted to IDR 48.685 trillion, which was higher than that received from the previous auction, which came in at IDR 46.675 trillion.

Why it Matters?

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