Indonesia FM Blasts Citi, Defends MSCI Downgrade
Indonesian Finance Minister Purbaya Yudhi Sadewa defended the country's economic track in the wake of a recent slump in the rupiah and local stocks. In a conversation with Bloomberg's Haslinda...
By Bloomberg Markets · Bloomberg Markets
Indonesian Finance Minister Purbaya Yudhi Sadewa defended the country's economic track in the wake of a recent slump in the rupiah and local stocks. In a conversation with Bloomberg's Haslinda Amin at a business forum in Jakarta, the minister criticized Citigroup Inc. for a report that said the nation's budget deficit could breach the legal limit this year. Purbaya also iterated that the revocation of mining permits was a step toward fostering a positive investment climate in Southeast Asia’s largest economy, stating "we are against illegal mining." (Source: Bloomberg)