By Morgan Davis
18 Dec 2020
Indonesian high yield companies that had limited access to the international bond market this year due to the Covid-19 pandemic are now preparing for a challenging 2021 unless sentiment gets a dramatic boost from the vaccine news. Morgan Davis reports.
This year presented a number of hurdles for Indonesian corporations. As of December 14, the country of nearly 275m people had reported 618,000 cases of the Covid-19 virus. The semi-lockdown policy that was put in place to battle the spread of the pandemic squeezed manufacturing and exports. Moody s predicts the country s GDP will contract 2% in 2020.
Still, a number of Indonesian borrowers, including the sovereign, sold international bonds in 2020.