OPEC’s Indonesia Is ‘Comfortable’ with Crude Oil Prices at $40-45 per Barrel

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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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.