CUE 1.52% 6.7¢ cue energy resources limited

to help save indonesia

  1. 202 Posts.
    Oyong and Jeruk are very welcome developments in Indonesia. The Indonesian governement will be clearing all obsticles to help full production.

    Sept. 2 (Bloomberg) -- Indonesia's credit outlook is deteriorating because of the government's inability to stem a 9.2 percent decline in the rupiah this year, triggered by record oil prices, Standard & Poor's said.

    The outlook on Indonesia's B+ foreign-currency debt rating was changed to ``stable'' from ``positive,'' the New York-based ratings company said in a statement today. The rating, which S&P raised four times since September 2002, is four levels lower than investment grade.

    Indonesia plans to sell as much as $1 billion of bonds this year to reduce a budget deficit that's swelling as it puts off an increase in fuel prices. The government needs to cut fuel subsidies and raise interest rates further to revive confidence in Southeast Asia's largest economy.
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