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Indonesia central bank keeps benchmark interest rate at 3.5%

SINGAPORE (ICIS)–Indonesia’s central bank on Thursday kept its benchmark interest rate at 3.5%, in support of the rupiah (Rp). “This decision is in line with the need to maintain the stability of the Rupiah exchange rate against increasing uncertainty on global financial markets, amidst the forecast for inflation that remains low,” Bank Indonesia said. The […]

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Philippines: External debt soars 18% to $98.5 billion in 2020

MANILA, Philippines — The country’s external debt surged by nearly 18 percent to $98.49 billion in 2020 from $83.62 billion in 2019 as the government borrowed more to finance its pandemic response efforts and various infrastructure projects, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. He attributed the increase to the issuance of […]

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