VIVAnews - Global market will be flooded by bonds issued by many countries to fund their financial restructuring, which are crushed by the global crisis.
"The year 2009-2010 will be critical because the world will be overwhelmed by bonds," said Finance Minister Sri Mulyani Indrawati on Tuesday night, April 28.
She explained that the US will issue bonds valuing US$1 trillion, not to mention England, France, Germany and other countries, which will also in a race for selling bonds.
The competition on bond issuance is going to create a significant change in the basis of global economy, according to Sri Mulyani. "This will become a very revolutionary change," she said. Market players will deal with many options concerning bonds.
However, Mulyani stressed that the situation will bring a serious risk to the world's economy. "In the next 2 to 3 years, the global market situation will become more critical."
Indonesia has already issued global and sukuk bonds. There has been Rp 77 trillion (US$7.13 billion) of issued bonds.
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Translated by: Ariyantri E. Tarman
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