S&P Maintains Indonesia's Credit Rating, Purbaya: Get Ready to Buy Stocks and Sell Dollars!

Finance Minister Purbaya Yudhi Sadewa has advised investors to start buying stocks and selling US dollars after S&P Global Ratings maintained Indonesia’s credit rating at BBB for the long term and A-2 for the short term with a stable outlook. According to him, the decision signals that various concerns about the condition of the Indonesian economy are unfounded. “Going forward, the negative sentiment in the capital market, bond market, and the rupiah exchange rate should dissipate quickly. So, get ready to buy stocks, and if you have dollars, sell them,” Purbaya said at the Parliament Complex in Senayan, Jakarta, on Tuesday, 14 July 2026. He assessed that the credit rating affirmation from S&P could boost investor confidence, including that of foreign investors, in Indonesia’s economic prospects. Regarding whether this sentiment could drive the Composite Stock Price Index and the rupiah exchange rate higher in the near term, Purbaya declined to provide numerical projections. However, he noted that astute investors should immediately seize the momentum. “If investors are smart, they should act fast. If domestic investors are smart, enter now. What else is there to worry about? All this time, the fear was that we could not manage our fiscal position even though the economy was growing faster,” he said. Purbaya stated that doubts had previously emerged regarding the direction of government policy and the strength of Indonesia’s economic fundamentals, with speculation circulating that the country’s credit rating could be downgraded. “When everyone was saying there was a possibility we would be downgraded—not just the outlook, but a full downgrade—this shows that those fears were unfounded,” he said. The government is therefore committed to consistently implementing economic policies while rectifying various inefficiencies to further strengthen the national economic fundamentals.