Prabowo Says S&P Backs Danantara Sovereign Indonesia, Maintains Stable Outlook

President Prabowo Subianto revealed that global rating agency Standard & Poor’s (S&P) has endorsed the establishment of PT Danantara Sovereign Indonesia (DSI), dismissing earlier concerns that Indonesia might face a sovereign credit rating downgrade. Speaking during a plenary cabinet session at the State Palace on Monday, Prabowo noted that the agency’s latest assessment was contrary to the fears that had been circulated. “We were previously frightened by the idea that rating agencies would give Indonesia a bad report and that we would be downgraded, deterring investment in Indonesia,” Prabowo said. “But it turns out S&P has announced that they assess the formation of PT DSI as appropriate. They said it is the right step for Indonesia and will increase our revenue.” S&P also maintained Indonesia’s stable outlook, preserving the country’s investment-grade status within the emerging market group. Despite the positive external validation, Prabowo cautioned against over-reliance on foreign assessments, stressing that the nation’s economic resilience is anchored in strong domestic fundamentals. He highlighted that food security is safe, the energy sector is sufficiently robust, and water resources are abundant, though better management is needed in some regions. “We must not always be satisfied with the ratings of other nations. Once again, believe in our own strength. We live in a global world, but we must trust our own strength and our own fundamentals,” he asserted.