One of rating agencies for Indonesia, i.e. Fitch Rating, on Thursday (December 15) upgraded Indonesia’s sovereign rating for foreign currency long-term senior debt at BBB- with stable outlook.
Rapid progress in overcoming structural weaknesses and sustainable economic growth which is even better than Fitch’s projection and without causing external imbalances or high inflation pressure will strengthen Indonesia’s economic fundamentals and promote increase of Indonesia’s further sovereign rating. Fitch still highlighted on structural weaknesses such as low per capita income and fiscal revenue, shallow domestic financial market, and problems in infrastructure quality and corruption eradication. But, these factors do not become obstacles to rating upgrade. This is explained by Bank Indonesia’s Public Relations Bureau, Dyah N.K. Makhilani.