By Fabiana Negrin Ochoa and Ying Xian Wong
Billions of dollars hang in the balance as Indonesia faces a potential market-status downgrade that could spur another round of capital flight from the country.
The decision will be handed down by index provider MSCI, which initiated a review of Indonesia over concerns about its investability.
On Wednesday local time, MSCI will announce whether it will continue to classify Southeast Asia's largest economy as an emerging market or downgrade it to frontier-market status.
The judgement could hardly come at a worse time. Indonesian assets have endured a bruising year marked by warnings from credit-rating agencies, MSCI peer FTSE Russell and analysts about domestic policymaking.
