Emergency measures: A file picture showing Bank Indonesia’s headquarters in Jakarta. Indonesian policy makers have announced a series of emergency measures in recent weeks as the coronavirus pandemic takes a toll on the economy. — Bloomberg
JAKARTA: S&P Global Ratings’ downgrade of Indonesia’s outlook is not a reflection of fundamental economic problems, central bank governor Perry Warjiyo said, stating that policy steps taken in response to the coronavirus pandemic will help to restore the nation’s financial trajectory.
The comments from the Bank Indonesia chief come after S&P cut its outlook for the nation to negative from stable, while affirming its long-term foreign currency debt rating at BBB, the second-lowest investment grade score.
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