Purbaya prepares bond stabilisation fund to stabilise the rupiah
Jakarta (ANTARA) - Finance Minister Purbaya Yudhi Sadewa plans to activate the bond stabilisation fund as one of the efforts to stabilise the rupiah exchange rate.
“In the government, I have my own bond stabilisation fund involving several parties. We can also meet needs with our own funds for the time being,” Purbaya told reporters in Jakarta on Wednesday.
This fund is prepared to stabilise the bond market or government debt securities by buying back State Securities (SBN) in the secondary market released by investors.
The strategy is aimed at keeping the yield on SBN stable, so that foreign investors holding government debt do not suffer capital losses.
However, the fund prepared by Purbaya has a different framework from the Bond Stabilisation Framework (BSF) owned by the Financial System Stability Committee (KSSK).
According to him, this bond stabilisation fund has been held by the Ministry of Finance but has been inactive because it has never been used.
“It’s not something new, but it has never been implemented. Meaning, it exists, but it’s dormant. I just want to activate it,” he said.
The Finance Minister plans to reactivate the bond stabilisation fund tomorrow (7/5), even though the yield on government debt is still below the macroeconomic assumptions in the 2026 State Revenue and Expenditure Budget (APBN), which is set at 6.7 percent.
“In the last few months, since January, the yield has risen sharply. When I injected money (into the banking sector), (the yield) was once 5.9 percent. (But) it keeps rising from 6.1 percent, now 6.7 percent,” he explained.
Regarding the funding source, Purbaya mentioned that the budget could come from various positions, although he did not specify which budget positions would be targeted.
The Finance Minister has also not disclosed the buyback plans to be carried out. However, he said his side would actively coordinate with Bank Indonesia (BI) as the authority responsible for rupiah exchange rate stability.
“I will try to help the rupiah in my own way,” he concluded.