World Bank Applauds Indonesia's Return to Investment Grade

World Bank Office Jakarta
Indonesia Stock Exchange Building
Tower 2, 12th Floor (62-21-5299-3000)

Contact:
In Jakarta:Randy Salim: (62-21) 5299-3
rsalim1@worldbank.org
In Washington DC: Mohamad Al-Arief  (1-202) 458-5964
malarief@worldbank.org

JAKARTA, December 16, 2011 -- The World Bank applauds Indonesia's return to BBB- investment grade, which is clearly a reflection of the strong macroeconomic fundamentals that the Indonesian government has built over the last ten years. A prudent overall macro policy framework and progress on significant structural reforms have harnessed the strengths of Indonesia's economy and allowed the country to continue posting positive growth. Even during the economic crisis of 2008/9 and amidst the current global downturn, Indonesia's economy has remained resilient. Indonesia's return to investment grade will hopefully encourage  much needed long-term investment in infrastructure and increased regulatory certainty and transparency that are critical for job creation and more inclusive growth. The World Bank remains committed to supporting Indonesia through this transition.