S&P Global Affirms Indonesia's Sovereign Credit Ratings with Stable Outlook

S&P Global Ratings affirmed Indonesia's 'BBB' long-term and 'A-2' short-term sovereign credit ratings on July 13, 2026, maintaining a stable outlook. This affirmation reflects the expectation that the country's weakened fiscal and external positions are temporary and will improve with higher commodity prices and more predictable policy changes. Government efforts to centralize management and reduce leakages in the resource and mineral sectors are also anticipated to boost revenue and export earnings over time.