Indonesia Hopes to Gain Investment Grade in 2011 

Sunday, 30 January 2011

The Jakarta Globe

Davos, Switzerland. Indonesia hopes the country will gain an investment-grade credit rating this year after it overhauled its financial institutions and boosted economic growth, Trade Minister Mari Pangestu said on Sunday.

“Hopefully, this year we’ll get back to investment grade,” Pangestu said at a panel hosted by CNN at the World Economic Forum in Davos, Switzerland.

Moody’s Investors Service upgraded the credit rating of the Southeast Asia’s largest economy on Jan. 17 to the highest level since the 1997 Asian financial crisis, citing the nation’s “economic resilience” and improving public debt position. The government’s foreign and local-currency rating was raised to Ba1 from Ba2, one step below investment grade and on par with Greece.