Indonesian Finance Minister: There is still room to issue global bonds this quarter, and next year's borrowing plan is being formulated.

(1) Indonesia's newly appointed Finance Minister, Suahasil Nazara, stated on Friday that as the government plans its borrowing arrangements for the remainder of the year, there is still room for Indonesia to issue global bonds this quarter. (2) He said: "In the remaining three months of this year, there is still space for issuing foreign currency bonds." (3) Suahasil Nazara also noted that, with parliament approving the budget this week, the government is drafting its borrowing plan for next year. (4) Like many other emerging markets, Indonesia is coping with the impact of surging global bond yields, which have pushed US Treasury yields to their highest levels in over 20 years. (5) Indonesian local bond yields have also risen. Since the start of this year, government bonds in Indonesia have caused dollar-denominated investors to suffer losses of nearly 8%. (6) Indonesia last tapped the global market for financing in May, issuing a total of $3.45 billion in USD and euro-denominated bonds.