AFTER an eight-year absence, a dollar-denominated bond issue by the government is finally making a comeback. Response from investors was a surprise, particularly for the government.

The Indonesian Government had initially planned to issue bonds worth US$400 million (Rp3.4 trillion based on the Rp8,500 to US$1 exchange rate). But response from investors was rapturous; the issue was oversubscribed by 10 times—an amount totaling US$4.16 bi