Indonesia looks to cut reliance on foreign funds with bonds sale to citizens living overseas

Indonesia is planning to sell bonds to its citizens living overseas as Southeast Asia’s largest economy seeks to expand its funding pool and reduce the dependence on foreign fund inflows for financing a budget deficit.The government is studying so-called diaspora bonds, which will target non-residents from migrant workers to students, according to Luky Alfirman, director general for financing and risk management at the finance ministry. Most of the details are still being discussed, he said.The…