Moody's Investors Service increased today Indonesia's credit rating where the government's foreign and local-currency bond rating was upgraded to Ba1 from Ba2. This is the highest rating since 1997 when Asia was consumed by the financial crisis. Moody's sees Indonesia as being economic resilient and improving public debt.
This decision was taken after exports from Indonesia rose, fueling growth in the country; thereby Indonesia reached the par with Greece after Moody's placed the later on review for a possible downgrade. Bank of Indonesia is expecting a growth rate of 6.5% in 2011 from 6.0% expected in 2010.