Ranked Indonesia, although already reached investment grade but was still less than 3 other ASEAN countries. Indonesia is still ranked below Singapore, Thailand and Malaysia.
Ministry of Finance Debt Management Director General Rahmat Waluyanto said the ranking order of the ASEAN countries were Singapore (AAA), Malaysia (A-), Thailand (BBB), Indonesia (BBB-), Philippines (BB +), Vietnam (B +). While Laos, Myanmar, Brunei and Cambodia have never done the ranking.
“So it is today Indonesia (rank) is higher than most countries of ASEAN,” said Rahmat
It was clarified earlier reports which stated rated BBB-Indonesia is the highest in ASEAN. Ranked Indonesia, though it was investment grade, was still lower than the 3 winners of ASEAN.
“I think Indonesia is the highest in ASEAN. Not many developing countries are investment grade, such as Brazil, Turkey and other ASEAN countries is still below Indonesia right now,” said Grace before.
As is known, the international ratings agency Fitch Ratings has raised the ranking of Indonesia to the level of ‘Investment Grade’ which means the equivalent of a number of developed countries. Fitch has raised in his statement explaining the Long-Term Foreign and Local-Currency-Issuer Default Ratings (IDR) Indonesia to ‘BBB-‘ from ‘BB +’ with outlook on both ratings is Stable. Country Ceiling raised to ‘BBB’ and Short-Term Foreign-Currency IDR raised to to ‘F3’.
“The increase in these ratings reflect the strong economic growth and resilience, the ratio of public debt is low and continues to decline, external liquidity is strong, and the framework of macro policies carefully”, said Philip McNicholas, Director of Group Fitch’s Asia-Pacific Sovereign Ratings in broadcast release on Thursday (15/12/2011).
Jakarta – Rating agency Fitch Ratings recently ranked Indonesia raised to investment grade. If Indonesia wants to keep its ranking rose from BB +, there are a number of homework to be done.
Indonesia President Director and Country Head Baradita Katoppo stated, the main PR Indonesian government is to improve the income per capita is low public today.
Later, other government public relations should be improved are still low level of infrastructure development, tax revenues, as well as corruption.
“Then to go up again, a lot of homework to be done, infrastructure, income per capita is now relatively low, then the tax revenue to GDP ratio remains low,” he said when met at the Ballroom Baradita Four Season Hotel, Jakarta, Tuesday (17 / 1 / 2012).
In addition, Baradita also stated another issue highlighted is the problem of corruption. “It’s one of our records, we want to see, that we call the term governance issues, structural problems and had to be resolved, because it’s one weakness Indonesia,” he said.
Then, Baradita meilihat there are still weaknesses in the financial sector to influence from outside. According to him, is still great potential for a reversal or sudden flight of foreign funds.
“When compared with other triple B country is relatively low, then there was a tangent participation of foreign investors in our financial markets are still very large so there is a risk reversal suden outflow,” he said.
To date, Indonesia still ranks Baradita declared stable. Fitch Ratings assess yet there was something that made Indonesia’s ranking falls or rises.
“Sustain, we do not see will decrease or increase in the near future,” he concluded.