Improvement in macroeconomic performance and economic stability is the result of a combination of good and forward looking economic policy, ongoing structural reforms, as well as good debt management. Prior to this upgrade, on March 12, 2010, Standard and Poor’s also upgraded Indonesia long-term foreign currency rating to BB (from BB–) and long-term local currency rating stays at BB+. Outlook for both are “positive”.
The upgrade was also observe in the rank of global competitiveness as publicized by the World Economic Forum. On the 2009–2010 Global Competitiveness Index, Indonesia rank was increasing to 54 from previously 72 in 2003. The upgrade would certainly put Indonesia in a better position before its creditors in negotiating, particularly export credit creditors.