BI Expects Q1 Economic Growth to Drop to 4.9% as Virus Hurts Tourism, Trade
Bank Indonesia (BI) is predicting that weakening economic activities, especially involving tourism, exports and imports, would drag down the country’s economic growth to 4.9 percent in the first quarter before picking up again in the following months. Bank Indonesia (BI) is predicting that weakening economic…
WHO Calls for Calm after Indonesia Confirms Cases of COVID-19
Indonesia confirmed its first coronavirus cases in the country, as the UN health body raised the possibility that more cases may be detected in the near future. The World Health Organization has called on the public in general to remain calm after Indonesia confirmed its…
Indonesia Plans Second Stimulus Package
Indonesia is working on a second stimulus package to shore up South-east Asia’s biggest economy, adding to the central bank’s aggressive moves to counter the impact of the coronavirus on financial markets. Indonesia is working on a second stimulus package to shore up South-east Asia’s…
Government to ease import procedures as manufacturers look beyond China for sources of raw materials
Plans are discussed to ease licensing procedures for importing raw materials as the country’s manufacturing industry begins to feel the impact of the disruption. The government plans to ease licensing procedures for importing raw materials as the country’s manufacturing industry begins to feel the impact…
Wishnutama Will Hire 15 Foreign Influencers to Promote Tourism
Tourism Minister Wishnutama Kusubandio said the Rp27 billion budget would not merely be used to pay influencers but also to fund other programs. Tourism Minister Wishnutama Kusubandio said the Rp27 billion budget would not merely be used to pay influencers but also to fund other programs. At least…
BI Continues to Intervene in Markets as Foreigners Sell Indonesian Securities
Bank Indonesia (BI) has pumped Rp 87 trillion (US$6.2 billion) into the domestic bond markets so far this month as big sell-offs sent stock markets around the world into a tailspin amid fears over the global spread of the coronavirus. Bank Indonesia (BI) has pumped…
US Unilateral Decision may Affect Indonesia’s Current Account
The United States (U.S.) government’s unilateral decision to exclude Indonesia from the list of developing nations can affect its current account, the Institute for Development of Economics and Finance (Indef) has opined. The decision should serve as an early warning to our government. If we…
Indonesia Invites Saudi Arabia to Invest in its Sovereign Wealth Fund
Finance Minister Sri Mulyani Indrawati hopes to get Saudi Arabia on board, particularly through the planned sovereign wealth fund. Finance Minister Sri Mulyani Indrawati hopes to get Saudi Arabia on board to invest more in Indonesia, particularly through the planned sovereign wealth fund that is…
Coronavirus Could Damage Global Growth in 2020: IMF
The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow. The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic…
Guide to Omnibus Bill on Job Creation: 1,028 pages in 10 minutes
Last week the government submitted the controversial omnibus bill on job creation to the House of Representatives, aiming for a conclusion in deliberation within 100 days. Last week the government submitted the controversial omnibus bill on job creation to the House of Representatives, aiming for…