Indonesia has raised Rp 18.33 trillion (US$1.27 billion) from government retail bond issuance ORI-017, the Finance Ministry announced on Monday, the highest proceeds ever recorded in an online bond offering by the country as the government struggles to finance its coronavirus response.
The Finance Ministry managed to book the figure as individual investors flocked to safe-haven assets amid a volatile financial market due to uncertainties triggered by the COVID-19 outbreak. This is the third year for the government to issue retail bonds online.
“The proceeds will be used to fund the budget deficit, particularly for mitigating the impact of the COVID-19 pandemic,” the Finance Ministry’s director for sovereign debt papers, Deni Ridwan, told a discussion on Monday. “With high appetite from retail investors, we can be more independent in financing the state budge…

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