Indonesia to issue US$390 million short term bonds

INDONESIA - The government will issue short term bonds valued at Rp3.9 trillion (US$390 million) next year to cover a deficit in the 2002 state budget, an official said.

Fuad Rahmany, head of the state bond management center, said the issuance of the short term bonds is based on a letter of intent signed with the International Monetary Fund.

The bonds will be used partly to replace bonds maturing that year, but the amount will depend on the absorbing capacity of the market, Fuad said.

He said the

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