Indonesia’s central bank has been criticised for “partially financing deficits” after it bought government bonds in the primary market.

The government’s fiscal stimulus packages are driving the budget deficit higher at a time when the country faces lower growth.

Bank Indonesia bought 1.7 trillion rupiah ($108 million) of sharia sovereign bonds via an auction held by the government in late April, marking its first direct purchase of government debt. The move came amid rupiah depreciation

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