JAKARTA Jan 6 Indonesia plans to issue a
regulation to ensure that primary bond dealers produce only
research that is "credible", a senior finance ministry official
said on Friday.
"The point is, the analysis has to be credible and
correspond to factual data," Suahasil Nazara, the finance
ministry's head of fiscal policy office, said in a text message.
The move comes after Indonesia cut business ties with
JPMorgan Chase & Co following a November downgrade by
the U.S. bank in its Indonesian stocks recommendation, to
"underweight" from "overweight".
The finance ministry dropped JPMorgan's services as a
primary dealer for domestic sovereign bonds and as an
underwriter for bonds sold to the global markets.
(Reporting by Hidayat Setiaji; Writing by Eveline Danubrata;
Editing by Clarence Fernandez)