Moody’s: Indonesia’s Sukuk Issuance to Increase to USD 27 Billion to Combat COVID-19

Moody’s Investors Service (Moody’s) anticipates Indonesia’s Sukuk issuance to rise to USD 27 billion in 2020, from USD 16 billion last year, as the Government of Indonesia searches for more funding to combat the COVID-19 pandemic.

According to Thaddeus Best, Lead Analyst of Moody’s Sovereign Risk Group, who was speaking at a recent webinar on global Islamic finance and Sukuk, the country’s Sukuk issuance is expected to increase by around 68.75% year-on-year (YoY), as the Government revealed an IDR 695.2 trillion (USD 47.3 billion) stimulus package to combat the pandemic. The Government hopes to help fund the stimulus package by raising IDR 900.4 trillion in the second half of 2020 to make u...