Bank Indonesia's Independence Recognised Globally, Evidenced by S&P Rating

Jakarta - Bank Indonesia (BI) Senior Deputy Governor Destry Damayanti revealed that the latest assessment from global rating agency S&P Global Ratings highlights positive aspects demonstrating global investor confidence in BI’s independence. Destry stated that S&P’s decision to maintain Indonesia’s credit rating and outlook is proof that the provisions in the recent Financial Sector Development and Strengthening Law (P2SK) are not viewed by global investors as a threat to BI’s independence. “It has always been linked to BI’s independence. But S&P sees no issue with BI’s independence here,” Destry asserted at the CNBC Indonesia Investment Forum 2026 in the Main Hall of the Indonesia Stock Exchange, Jakarta, Wednesday (15/7/2026). According to Destry, this proof of independence is clearly visible in BI’s measured ability to set monetary policy according to Indonesia’s economic conditions. For example, raising the BI Rate benchmark interest rate to respond to exchange rate pressures in recent months. “So far they see that BI can raise interest rates; if we were not independent, we could not do that. Here, the government supports prudent policies,” she explained. As is known, international rating agency S&P Global Ratings decided to maintain Indonesia’s credit rating at BBB for the long term and A-2 for the short term. Meanwhile, Indonesia’s outlook remains at a stable level. “We affirmed Indonesia’s credit rating at BBB for the long term and A-2 for the short term. The long-term rating outlook remains stable,” S&P wrote in its report on Monday (13/7/2026).