Indonesia’s foreign debt rose by the end of August as the government borrowed funds from multilateral organizations to cover the country’s fiscal deficit, while businesses borrowed funds for investment, Bank Indonesia (BI) announced Thursday. Indonesia’s external debt, which includes government and private-sector borrowings, was recorded at US$413.4 billion in August, up 5.7 percent year-on-year […]
Read MoreThe government aims to lure Japanese companies into relocating to Indonesia, as it launched on Wednesday an integrated data platform to spur investment and economic relations between the two countries as the health crisis impacts the economy. The integrated data platform, dubbed Japan-Indonesia Partnership Lounge (JAIPONG), is set to provide information on economic cooperation opportunities […]
Read MoreFactory activity in Indonesia showed signs of improvement in the third quarter after recording the deepest slump ever in the previous quarter, as the reopening of the economy jacked up output and new orders, according to a Bank Indonesia (BI) survey. BI’s Prompt Manufacturing Index (PMI-BI) was recorded at 44.91 percent in the third quarter, […]
Read MoreIndonesia’s economic downturn is likely to be worse than previously expected as Southeast Asia’s largest economy struggles to contain the coronavirus pandemic, says the International Monetary Fund (IMF). Indonesia’s gross domestic product (GDP) is now expected to shrink by 1.5 percent this year rather than the 0.3 percent contraction the IMF had projected in June. […]
Read MoreBank Indonesia (BI) decided on Tuesday to keep its benchmark interest rate unchanged to safeguard the rupiah’s exchange rate amid financial market volatility but pledged to pursue other ways of quantitative easing to support the coronavirus-battered economy. The benchmark seven-day reverse repo rate was maintained at 4 percent for a fourth consecutive month, while the […]
Read MoreJAKARTA: The Indonesian rupiah has languished at the bottom of Asian currency rankings for most of the year but a recent overhaul of the nation’s investment law may help revive its fortunes. The rupiah rose about 1% against the dollar last week after Indonesia approved its first omnibus law aimed at cutting red tape to […]
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