Moody's lifts Indonesia

Moody's Investors Service said it upgraded Indonesia's foreign- and local-currency sovereign debt ratings to Ba2 from Ba3.

The outlook is stable.

The upgrade was prompted by the Indonesian economy's strong resilience to the global recession as well as its healthy medium-term growth prospects, Moody's said.

A pick-up in economic activity to its recent rate of 5.5% is expected in 2010, Moody's said, and Indonesia's overall growth dynamic is better positioned to face medium-term global uncertainties.

Indonesia's macro-economic management also is improving, the agency said, and its appropriate policy stance is expected to persist in the foreseeable future.

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