Finance Minister to evaluate ORI016's low demand rate

Finance Minister to evaluate ORI016's low demand rate

Minister of Finance Sri Mulyani Indrawati delivers a speech regarding on ORI016 in Jakarta, Tuesday, October 29, 2019. (ANTARA/Astrid Faidlatul Habibah/Sw)

"We will refer to the dynamics that occurred, and set up an evaluation
Jakarta (ANTARA) - The Ministry of Finance is likely to evaluate the low rate issue of Indonesian Retail Government Bond series ORI016 compared with ORI015, Minister of Finance Sri Mulyani Indrawati stated here, Tuesday. "We will refer to the dynamics that occurred, and set up an evaluation," Indrawati said.

In the meantime, the ministry will continue to issue retail government bond to maintain the state's financing through instrument diversify and retail, Indrawati added.

There would be coordination between all stakeholders of financial sectors namely the Ministry of Finance, Financial Services Authority (OJK) and Bank Indonesia to ensure stability in the financial markets, she assured.

The government issued the ORI016 series bonds, which is the first to be sold online by the e-SBN system with an indicative target as of Rp9 trillion (around US$641 million), the Director General of Financing and Risk Management, Luky Alfirman said. Data released on October 29, 2019, revealed that the total demand for ORI016 was Rp8.21 trillion (US$585 million), which was lower than the older series ORI015 which went on sale in October 2018 for Rp23.37 trillion (US$1.6 billion).

Indonesia’s Retail Sovereign Paper in 2019 increased 5.3 percent compared to the sale last year, data issued by the Directorate General Financing and Risk Management revealed. (INE)

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