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Holding out for sovereign bonds as finances tighten
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But for some Penn State students, finals week can be a nightmare.
On top of the aforementioned work, some students have found themselves living through a crazy final exam.
David Miller said he became sick right as one of his final exams started. Miller (junior-management information systems) said he was taking a Spanish exam when he suddenly began to feel nauseous.
âI asked my professor in the middle of my final â maybe five minutes into the exam â if I could go to use the bathroom, and I actually ended up spending the next 40-50 minutes just throwing up,â Miller said.
Credit ratings agency Moody’s Investors Service has warned that Indonesia’s credit rating could be downgraded next year if there is a prolonged economic slowdown, a weakening policy framework or a deteriorating external position.
“The trigger for a [potential] ratings downgrade is coming from long-term stagnation in growth that could last beyond 2020 and 2021,” said senior Moody’s analyst Anushka Shah at a media briefing on Tuesday.
“In the absence of either an upturn in consumption or investment growth, government spending will actually remain the main factor driving headline GDP [gross domestic product].”
The ratings agency expects Indonesia’s economy to contract by 2 percent this year, followed by a 4.7 percent rebound over the course of 2021.
Indonesia’s foreign debt rose to US$413.4 billion in October driven by higher borrowings by the private sector and the government, Bank Indonesia (BI) announced Tuesday.
Indonesia’s external debt, which includes government and private-sector borrowings, increased 3.3 percent year-on-year (yoy) in October, lower than 3.8 percent yoy growth recorded a month prior, as the government paid its debts amid capital inflows to the bond market following the easing uncertainty in the global financial market.
According to BI, the government’s foreign debt increased 0.3 percent yoy to $199.8 billion in October, slower than 1.6 percent annual growth in September. Meanwhile, overall public debt, which includes borrowing by the central bank, amounted to $202.6 billion.
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