JAKARTA: Indonesia will be cautious on the timing of its 2022 foreign currency bond sales denominated in the U.S. dollar, euro and the Japanese yen, in view of rising interest rates globally, the country's finance minister said on Wednesday.

"We will continue to calibrate the optimalisation of (debt in) foreign currencies versus domestic issuance. We will monitor market conditions to determine the right timing and size," Sri Mulyani Indrawati told an online news conference.

The minister also said Indonesia's economic activity in the first quarter should not be affected too much by a new wave of COVID-19 cases, driven by the Omicron variant, because vaccination rates were now higher than in earlier infection waves.

(Reporting by Gayatri Suroyo and Fransiska Nangoy Editing by Ed Davies) ((gayatri.suroyo@thomsonreuters.com; +622129927609; Reuters Messaging: gayatri.suroyo.thomsonreuters.com@reuters.net))