Indonesia to maintain debt sustainability despite Covid-19 relief spending, says ADB

The logo of the Asian Development Bank (ADB) is displayed on the gates of the bank's headquarters in Central Jakarta. (Antara/Antara)

JAKARTA, April 27 (The Jakarta Post/ANN) - Indonesia’s debt is expected to remain sustainable this year despite a steep increase in the planned issuance of government bonds to finance the country’s widening budget due to a big COVID-19 stimulus check, the Asian Development Bank (ADB) has said.

ADB Indonesia country economist Yurendra Basnett said that the country had entered the COVID-19 crisis with one of the lowest debt-to-gross domestic product (GDP) ratios in the world, while the government’s lower revenue and higher state spending would likely push the ratio higher.