Indonesia - Capital controls part II: the credit event

The future is uncertain for the holders of Indonesian debt as the risk of a further tightening of capital controls looms.

Ignore the IDR at your peril

Will Indonesia fade gently into the night as it drops off most investors radar screens, or will the country deliver further shocks and uncertainty to the market We fear the latter, and are wary of Indonesia re-emerging in the headlines over the coming months for the wrong reasons we believe there is a risk of a further tightening of capital controls, a move which could have credit implications for holders of Indonesian debt....

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