February 2012
Deals of the Year 2011: Republic of Indonesia
If much of the world lacked bright moments in 2011, you could at least find them in Asia – and nowhere more so than in Indonesia.
The worst laggard of the Asian financial crisis is a country transformed, which is nothing new to foreign investors: by August, they held 36% of all rupiah government bonds in the country before a brief but manageable pullback later in the year. Indonesia’s numbers – whether foreign exchange reserves, GDP growth, net external debt or contribution of domestic demand – provided a compelling case for an upgrade to...
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