Indonesian Government Raises IDR 6.6 Trillion through Sukuk Auction

Amidst the on-going COVID-19 crisis, the Government of Indonesia has raised IDR 6.6 trillion through the auction of State Shariah Securities (SBSN). This was lower than the initial target of IDR 7 trillion to meet the funding requirements in Indonesia's State Revenue and Expenditure Budget (APBN) for 2020.

According to the Directorate General of Financing and Risk Management, Ministry of Finance, the total incoming bids from the auction had amounted to IDR 14.6 trillion.

The Government also announced that it would raise new IDR-denominated debt funding in an attempt to provide more liquidity and capital to local businesses.

Secretary of the Coor...