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Market Impact: 0.48
Waskita’s Missed Bond Payment Puts Indonesia Guarantee to Test
Source: Bloomberg
Sovereign Debt & RatingsCredit & Bond MarketsBanking & LiquidityFiscal Policy & Budget
Indonesian state-owned construction company PT Waskita Karya failed to repay 722 billion rupiah ($40 million) in bonds due Thursday. The default triggers a claim on an Indonesian government guarantee program, testing a pandemic-era backstop and raising concerns over state-owned enterprise credit risk and potential fiscal exposure.
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