In your own way: Indonesia for the first time refused to place bonds in dollars

Indonesia for the first time refused to place bonds in US dollars and began issuing "panda bonds" in yuan in the amount of up to 7 billion yuan (about $ 1 billion).

According to Indonesian Finance Minister Purbai Yudhi Sadeva, investors reacted positively to this initiative, designed to diversify sources of financing against the backdrop of falling rupees and government debt of 9,920.4 trillion rupees.

The country has already received permission to issue such securities worth up to 30 billion yuan in the next two years, and the rating agency China Lianhe Credit Rating Co. It has already assigned her an AAA rating, according to Banksta.

David Yim, head of Capital Markets at Standard Chartered, noted that this step is of strategic importance for sovereign states and creates a benchmark for other corporate borrowers in the region.