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Indonesia sells 2.65 trln rph from debt auction, far below target
June 18, 2013 / 8:31 AM / 4 years ago

Indonesia sells 2.65 trln rph from debt auction, far below target

JAKARTA, June 18 (Reuters) - Indonesia’s finance ministry raised 2.65 trillion rupiah at a debt auction on Tuesday, below an indicative target of 8 trillion rupiah, the debt office said.

It sold 400 billion rupiah in one-year T-bills, 700 billion rupiah in 10-year bonds and 1.55 trillion rupiah in 20-year bonds.

Total incoming bids were 7.75 trillion rupiah.

There were no winning bids for two- and five-year bonds.

The auction came after parliament on Monday approved revisions for the 2013 state budget which lifted the budget deficit to 2.38 percent of GDP, from the previous target 1.65 percent, and paved the way for the government to cut costly fuel price subsidies.

In the previous auction, Indonesia also sold a less-than-targeted amount due to high yields after the country reported disappointing trade data.

Reporting by Adriana Nina Kusuma and Nilufar Rizki; Writing by Rieka Rahadiana; Editing by Jonathan Thatcher and Jacqueline Wong

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