Jakarta, Aug. 20 -- Indonesia's Finance Minister Purbaya Yudhi Sadewa said the US decision to double its government bond buyback program validates Indonesia's earlier policy to contain rising bond yields.

He said the move showed Indonesia's buyback policy meets international standards and could serve as a model for other countries.

"It shows what we're doing is an international standard. Maybe the US is copying us because it worked," Purbaya said after a meeting with parliament's Budget Committee in Jakarta on Thursday.

Indonesia's Finance Ministry has implemented government bond buybacks through its Directorate General of Budget Financing and Risk Management.

Purbaya said the buyback programs share the same goal as the US initiative,...