Indonesia to issue global bond

The Indonesian government will issue another global bond in 2005, in an effort to cope with the country's budget deficit and to defend rupiah, Treasure of the Indonesian Finance Ministry Mulia P. Nasution said in Jakarta Monday.

"It is aimed at strengthening rupiah," Nasution, who was quoted by the Detik news service as saying before attending a parliament session at the Parliament Building.

The Indonesian government firstly issued global bond last year, then in March 2005 the government delayed the issuance of the bond due to the weak of international bond market and the tumble of bonds of most of US companies as well as the hike of US interest rate at the beginning of this year.

On April 14, the government issued a global bond valued at 1 billion US dollar.

Earlier, Indonesian President Susilo Bambang Yudhoyono said that the country's budget deficit would reach to 48.3 trillion rupiah (Some 4.83 billion US dollar), one of the way to cope with the deficit was the issuance of the global bond.

Source: Xinhua