Indonesian Government Raises IDR 4.495 Trillion in Biweekly State Sukuk Auction; Below Indicative Target

The Government of Indonesia has raised IDR 4.495 trillion from its biweekly auction of State Shariah Securities (SBSN), also known as State Sukuk, held on the 9th of March 2021, according to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance. The amount raised was below the indicative target of IDR 12 trillion, and slightly lower than the IDR 4.995 trillion raised in the previous auction held on the 23rd of February 2021.

Why it matters?

The funds obtained in the auction will be used by the Government to fulfil part of its financing target in the 2021 State Revenue and Expenditure Budget (APBN). According to media reports, the decline in performance of the auction was due to US governmen...