"With the rating improved a notch to level Baa2 by Moody`s, four international rating agencies have recognized Indonesia, giving it a higher investment grade level," the governor of Bank Indonesia, Agus D.W. Martowardojo, stated here, Friday.
This level of rating is the highest achieved by Indonesia from Moody`s.
The acknowledgement is a great achievement on the back of the ongoing global economic uncertainty affecting the economic development in the region.
Such an achievement reflects the consistency of efforts by Bank Indonesia, along with the government, in maintaining the macroeconomic and financial system stability.
In this regard, Bank Indonesia will remain vigilant on increasing the global risk and will optimize the policy mix, including macroprudential policy and financial market deepening initiatives, to maintain economic stability as a key foundation to attain a stronger, sustainable and inclusive economic growth.
Moody`s Investor Service (Moody`s) upgraded the Sovereign Credit Rating (SCR) of the Republic of Indonesia from Baa3/Positive Outlook to Baa2/Stable Outlook on April 13, 2018.
Moody`s highlighted the key factor supporting the decision was a credible and effective policy framework conducive to macroeconomic stability.
Together with the build up of financial buffers, prudent fiscal and monetary policy has improved the sovereign`s resilience and capacity to respond to shocks.