Indonesian Government Raises IDR 7.345 Trillion in Biweekly State Sukuk Auction; Below Indicative Target

The Government of Indonesia has raised IDR 7.345 trillion from its biweekly auction of State Shariah Securities (SBSN), also known as State Sukuk, held on the 6th of April 2021, according to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance. Although the amount raised was below the indicative target of IDR 10 trillion, it was higher than the IDR 6.396 trillion raised in the previous auction held on the 23rd of March 2021. Total entry bids in the latest auction reached IDR 14.559 trillion, which was less than that received from the previous auction which came up to IDR 17.165 trillion.

Why it matters?

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