Indonesian Government Raises IDR 6.4 Trillion from Biweekly State Sukuk Auction; Below Target

The Government of Indonesia has raised IDR 6.4 trillion from a biweekly auction of State Shariah Securities (SBSN), also known as State Sukuk, to fulfil part of its financing target in the 2020 State Budget. The auction, which was conducted on the 29th of September 2020, raised a lower amount than the indicative target of IDR 10.0 trillion.

According to a statement released by the Directorate General of Budget Financing and Risk Management, Ministry of Finance, the total incoming bids received from the State Sukuk auction were IDR 19.86 trillion, which was lower than that received from the previous auction held on the 15th of September 2020, which raised IDR 20.79 trillion.

The SBS...