“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Monday, March 30, 2009

Indonesia bond exchange to reduce refinancing risks

Reuters, 03.30.09, 07:55 AM EDT

JAKARTA, March 30 (Reuters) - Indonesia will offer investors the opportunity to exchange short-dated rupiah debt for longer-dated paper, the finance ministry said in a statement on Monday, in a bid to reduce refinancing risks.

The ministry plans to swap government bonds maturing in 2009-2012 with fixed-rate bonds FR0034, which mature on June 15, 2021 and have a 12.8 percent coupon.

The government will offer to sell the 12-year bonds at 101.5 percent of par value. The debt traded at around 99.5 trade on Monday.

Debt analysts, however, said the debt exchange offers an opportunity for investors to take profits by selling short-dated paper following a recent rally, and to switch to longer-dated bonds amid expectations of lower inflation.

'Bonds have rallied sharply in recent weeks,' said one Jakarta-based bond trader.

'It's a good time to take profits now.'

For the government, the bond exchange offers a chance to extend its debt maturity profile and reduce refinancing risks if the global capital markets experience further bouts of turbulence and upheaval, analysts said.

Indonesia's government, which faces elections this year, has announced a 73.3 trillion rupiah fiscal stimulus package to boost growth and counter the impact of a global economic slowdown.

With the budget deficit forecast at 2.5 precent of gross domestic product this year, the government has turned to the bond markets for funding and has so far raised more than two-thirds of its gross debt issuance target for this year.

The central bank cut its key interest rate by 50 basis points to 7.75 percent earlier in March, bringing total cuts this year to 150 basis points to support economic growth.

The central bank lowered its growth forecast to 3 percent for this year, down from 6.1 percent last year.

(Reporting by Adriana Nina Kusuma and Tyagita Silka; Editing by Sara Webb)

((ga.arka@thomsonreuters.com; Reuters Messaging: ga.arka.reuters.com@reuters.net; +62 21 384 6364 ext 911)) Keywords: INDONESIA ECONOMY/DEBT

(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)

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