Japan Credit Rating Agency, Ltd. (JCR) on Jan. 31, 2020, upgrades the Sovereign Credit Rating of Indonesia from BBB/positive outlook to BBB+/stable outlook (investment grade). According to JCR, the ratings mainly reflect Indonesia’s solid domestic consumption-led economic growth, restrained budget deficit and public debt, and resilience to external shocks supported by the flexible exchange rate and credible monetary policies and accumulation of foreign exchange reserves.
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