Indonesia's finance ministry sees debt market stabilising

Indonesia's finance ministry believes the market will stabilise and is preparing alternatives for financing

JAKARTA: A rise in Indonesian bond yields is unavoidable given the current global situation, but the finance ministry believes the market will stabilise and is preparing alternatives for financing in the mean time, a senior official said on Friday.

"For yields to return to 6.3 percent would be hard, but we're comfortable that the movements (in global markets) are in line with ours," Luky Alfirman, the head of the ministry's financing and risk management office, told a news conference, referring to the yield of the benchmark 10-year bond.

The 10-year Indonesian bond yield hit 7.340 percent earlier on Friday, the highest since March 2017, before falling slightly to 7.314 percent. - Reuters