Indonesia to Hire Barclays, UBS to Set Up Global Bond Program

Indonesia government plans to hireBarclays Plc and UBS AG to set up a global bond program. Government may sell bonds under the program in a mix of public and private transactions in 2009 with size, currency and tenor to be determined by market conditions.
The government will still make use of bond issuance by expanding investor base. The government even plans to directly sell T-bonds to the central bank (BI) and regional governments.
For 2009, the government fixes budget deficit at IDR51.3 trillion or 1% of GDP. To patch up the deficit, the government will use bond issuance and seek bilateral as well as multilateral standby loans.