Jakarta, hitclubapk3 Indonesia
—
Bank Indonesia
(BI) has purchased
Government Securities
(
SBN
) amounting to IDR 289.91 trillion until 18 November 2025.
BI Governor Perry Warjiyo said that of the total IDR 289.91 trillion, IDR 212.6 trillion was carried out through the scheme
debt switching
with the government.
Debt switching
is the exchange of old debt securities that are due with new debt securities with a longer term or tenor.
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“Bank Indonesia purchased SBN as a form of close synergy between monetary policy and fiscal policy, which until 18 November 2025 reached IDR 289.91 trillion, including purchases in the secondary market and programs
debt switching
with the government amounting to IDR 212.60 trillion,” said Perry in a virtual BI Board of Governors Meeting press conference, Wednesday (19/11).
Meanwhile, he said the purchase of SBN in the secondary market was carried out in accordance with market mechanisms, measurable, transparent and consistent with the monetary program in maintaining economic stability so that it could continue to maintain the credibility of monetary policy.
Purchasing SBN in the secondary market, he continued, is also BI’s policy to keep the rupiah exchange rate stable.
“The policy of stabilizing the rupiah exchange rate continues to be strengthened by intervention in the market
off-shore
via NDF (
non-deliverable forward
) and intervention in the domestic market through the spot market, DNDF (
domestic non-deliverable forward
), as well as purchasing SBN in the secondary market,” said Perry.
Referring to statutory regulations, BI is allowed to buy SBN in the secondary market.However, the central bank is also permitted to buy SBN from the primary market or directly from the state in case of crisis conditions.
This is stated in Law Number 4 of 2023 concerning Development and Strengthening of the Financial Sector, aka the PPSK Law.The policy was signed by the 7th President Joko Widodo (Jokowi) on January 12 2023.
Purchases in the primary market are direct purchases of government debt securities by investors through a mechanism
Initial Public Offering
(IPO), with a certain price and time period set by the government.After the offering period ends, the debt securities are no longer available on the primary market, and can only be obtained on the secondary market.
In the secondary market, investors can sell government debt securities at a higher price or at a discount from the price set by the government.Buying and selling takes place between investors, no longer between investors and the government.Transactions in the secondary market have no limited offering period, they can be carried out every stock exchange working day.
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