Investors snap up Indonesian bonds
Foreign investors have bought nearly as many Indonesian bonds in the first few months of this year as they did during the whole of 2009. Other investment flows are also up, boosted by the country's recent upgrade by Standard & Poor's.
Indonesia seems to be flavour of the month, particularly in terms of bond investments. Debt instruments issued in the country were already proving very popular, even before Standard & Poor's upgraded the country's foreign-currency rating to BB from BB- on March 12, its highest rating in 12 years.
Foreign holdings of Indonesian bonds rose to Rp127.76 trillion ($14 billion) on March 12, up from Rp125.06 trillion on March 5, Rp108 trillion at the end of last year and Rp87.6 trillion…
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