Indonesia’s banking sector, deep in crisis since 1998, is finally beginning to recover. The sale last month by the government of one of the biggest banks nationalized after the sector’s collapse, and a further successful international bond sale by the biggest state bank, has improved investor sentiment, prompting optimism about further privatizations still in the pipeline.
The optimism reflects growth in confidence about the broad stability of the macroeconomy. This has shown significant improvement across most indicators over the past year, including a strengthening currency, reduced inflation and debt, continuing growth of around 4% and a stable export performance.
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