{
    "success": true,
    "data": {
        "id": 1692374,
        "msgid": "s-p-will-not-change-indonesias-credit-rating-for-the-next-two-years-1776822642",
        "date": "2026-04-22 08:07:02",
        "title": "S&P Will Not Change Indonesia's Credit Rating for the Next Two Years",
        "author": "",
        "source": "TEMPO_ID_BISNIS",
        "tags": "",
        "topic": "Finance",
        "summary": "Finance Minister Purbaya Yudhi Sadewa has stated that S&P Global Ratings will maintain Indonesia's BBB credit rating with a stable outlook for the next two years, following discussions in New York. This assurance counters earlier concerns about vulnerability in Southeast Asia and refutes any imminent downgrade in June, attributing the stability to explanations of the national economy and government policies. However, S&P has highlighted risks from the government's debt interest payments exceeding 15% of revenue, reaching 19% this year amid rising totals from Rp 488.4 trillion in 2024 to nearly Rp 600 trillion in 2026, underscoring the need for fiscal prudence.",
        "content": "<p>Finance Minister Purbaya Yudhi Sadewa stated that S&amp;P Global\nRatings will not change Indonesia\u2019s credit rating or outlook for the\nnext two years. This certainty, he said, was obtained during a meeting\nwith S&amp;P officials in New York City, United States, some time\nago.<\/p>\n<p>\u201cThe main point is what they said: Your rating remains BBB, outlook\nstable. Well, I said thank you,\u201d Purbaya remarked when met at his office\nin Central Jakarta on Tuesday, 21 April 2026.<\/p>\n<p>S&amp;P is said to continue maintaining Indonesia\u2019s credit rating at\nthe BBB level with a stable outlook. Purbaya mentioned being initially\nsurprised by the result until receiving an explanation that the\ncondition is expected to remain unchanged for the next two years.<\/p>\n<p>Finance Minister Purbaya denied any threat of a change to Indonesia\u2019s\ncredit rating reportedly to occur in June. He stated that S&amp;P\u2019s\nvisit to Indonesia in that month is only for discussions and to review\nthe consistency of policies previously conveyed.<\/p>\n<p>He also said that S&amp;P has refuted an internal study that once\nclaimed Indonesia\u2019s debt rating is the most vulnerable in Southeast\nAsia. According to Purbaya, the rating agency\u2019s confidence arose after\nreceiving explanations regarding the national economic conditions and\nthe direction of government policies.<\/p>\n<p>Previously, S&amp;P Global Ratings highlighted the ratio of the\ngovernment\u2019s debt interest payments to revenue, which has been above 15\npercent. This warning was conveyed by the S&amp;P team to Finance\nMinister Purbaya Yudhi Sadewa during a meeting in Washington DC, United\nStates, on Tuesday, 14 April 2026.<\/p>\n<p>After the meeting, Purbaya revealed the notes provided by S&amp;P.\n\u201cThey gave a warning, discussing in more depth, that interest payments\ncompared to income are above 15 percent,\u201d Purbaya stated in his remarks,\nquoted on Saturday, 18 April 2026.<\/p>\n<p>This year, Indonesia\u2019s debt interest payments are nearly Rp 600\ntrillion, targeted at Rp 599.5 trillion in the state revenue and\nexpenditure budget (APBN). These debt interest payments have risen\ncompared to 2025, recorded at Rp 552.1 trillion, or Rp 488.4 trillion in\n2024.<\/p>\n<p>The safe ratio of debt interest payments to state revenue, based on\nstandards from several institutions including S&amp;P, is generally\nbelow 15 percent. With Indonesia\u2019s debt interest payments this year\nreaching Rp 599.5 trillion, while state revenue is targeted at Rp\n3,153.9 trillion, the ratio has reached 19 percent.<\/p>\n<p>This means that 19 percent of total state revenue is used solely to\npay debt interest. The percentage of debt interest payments to revenue\nhas also increased compared to last year, which reached 18.38\npercent.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/s-p-will-not-change-indonesias-credit-rating-for-the-next-two-years-1776822642",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}