Indonesian paradox

The local rupiah debt market is tipped by some to be massive. But a recent CSFB research report raises some paradoxical questions.
June 28, 2000

Over an evening of racing at Hong Kong's Happy Valley, a banker I know was enthusing about the potential of the Indonesian local bond market. He cited the recent Rp1 trillion ($116 million) bond deal for Indofood, and noted that there were 1,000 people at the roadshow presentation in Jakarta.

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