Indonesia woos Instagram generation for new bonds

Young and savvy: Indonesia is tapping its youths’ growing appetite for fixed income to fund its deficit. — Reuters

INDONESIA’S push to cut its reliance on foreign funds to fill the yawning current account gap has prompted it to chase a new and growing source of funding – digitally savvy millennials.

At a recent marketing event in Jakarta’s hip Kebayoran Baru district, Indonesia’s finance ministry used celebrities, dance music and social media influencers to pump up interest in national savings bonds.