Indonesia’s finance minister Sri Mulyani Indrawati told CNBC she was optimistic her country could receive a ratings upgrade this year — despite oil being pinned below $50, levels at which she said her country is generally “comfortable.”
Despite the low price of crude walloping other OPEC nations, Indonesia, which is part of the G-20 group of the world’s biggest economies, is managing to ride out the crisis. It has a coveted investment grade credit rating from Moody’s Investors Service and Fitch Ratings, but not yet from Standard & Poor’s.
Indrawati told CNBC she hoped Indonesia’s rating might be upgraded in 2016, with the Indonesian government engaged in programs to boost infrastructure spending, open up the private sector and reform taxation.
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