Indonesia borrows 7 billion USD to support COVID-19 fight
Indonesia will receive loans worth about 7 billion USD from the World Bank, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) to finance its fight against the raging COVID-19 pandemic. Indonesia will receive loans worth about 7 billion USD from the World…
Indonesia Gets Innovative in Raising $62 Billion for Virus Fight
The United States leads the world in cases of COVID-19. We’ll provide the latest updates on coronavirus cases, government response, impacts to our daily life, and more. What is the latest news? Trump’s Plan to Reopen the Nation Gives Governors Broad Authority to Lift Coronavirus…
Tens of thousands of workers across Indonesia laid off because of COVID-19 outbreak
Tens of thousands of workers across Indonesia have lost their jobs as economic activity slows to a crawl as a result of the COVID-19 outbreak. In Central Java, 24,249 workers have been laid off while 191 companies employing 148,791 workers have been affected by the…
Rupiah may slide to Rp 20,000 per US dollar in worst-case scenario
The rupiah could hover around Rp 17,500 or even slide to as low as Rp 20,000 against the US dollar, the weakest in history, if Indonesia’s economy contracts and the COVID-19 downturn is prolonged, Finance Minister Sri Mulyani Indrawati has warned. The local currency, already…
Global Investors ‘Confident’ With Indonesian Economy: Central Bank
Global investors still have confidence in the Indonesian economy and may back a drive to buy new debt securities issued to finance the government’s stimulus package for mitigating the Covid-19 pandemic, Perry Warjiyo, the governor of Bank Indonesia, the country’s central bank, said on Wednesday….
Indonesia sets sights on Netflix, Zoom digital tax to boost economy amid COVID-19 pandemic
Your Netflix subscription is about to get a little pricier as the government has set its sights on taxing digital companies and services that may or may not have a legal entity in Indonesia. On March 31, President Joko Widodo issued a Perppu (government regulation…
Inflation stable in March but COVID-19 risks loom over outlook: Economists
Indonesia recorded a benign inflation rate in March as the government’s measures to maintain food prices remain in check but the COVID-19 pandemic poses risks to this year’s outlook, economists have said. The consumer price index (CPI) stood at 0.1 percent in March, slightly lower…
Indonesia AirAsia’s growth halted due to coronavirus and economy
Indonesia AirAsia has been forced to halt its growth plan for this year, as a result of the coronavirus pandemic and economic challenges faced by Indonesia. The plan for 2020 was for the low-cost carrier to increase its market share by adding three new aircraft…
BI injects $18.19b liquidity into financial markets, banks as rupiah slides
Bank Indonesia (BI) has continued to inject liquidity of up to Rp 300 trillion (US$18.19 billion) into the financial markets and banks to help support the country’s crashing currency as foreign investors sell off Indonesian assets over COVID-19 fears. BI Governor Perry Warjiyo said the…
Jokowi relaxes loan settlements to help small businesses cope with COVID-19 effects
The Financial Services Authority (OJK) will extend loan payment deadlines for micro, small and medium enterprises (MSMEs) for up to one year to help them cope with the economic impacts of the COVID-19 pandemic. Speaking at the State Palace in Central Jakarta on Tuesday, President…