Indonesia mulls issuing yuan bond: official

JAKARTA - In a bid to diversify the sources of its foreign financing, Indonesia planned to issue sovereign bonds in China's yuan, a senior official of Indonesian Finance Ministry said on Monday.

The consideration to issue the yuan bond was based on the fact that with such a huge financial market, China has a great potential for an alternative financing resources to Indonesia, said Robert Pakpahan, Financing and Risk Management Director General of the ministry.

He also said the issuance of yuan bond was highly expected to finance the nation's state budget deficit.

"China's financial market and its saving were enormously huge, we can possibly retrieve funds from that market. We can enter that market (through the bond) once we have the chance," Robert said.