Indonesia

April 9, 2020

Indonesia – ‘Break the chain!’: Businesses brace for Jakarta’s social restrictions

Essential-needs businesses have promised smooth services with retail stocks sufficient at least until May as Jakarta, Indonesia’s economic powerhouse, will enforce large-scale social restrictions starting Friday to slow down the spread of COVID-19. The Jakarta Post spoke to businesspeople in sectors related to cash, fuel, food, medicine, retail, water, communications and logistics, which are exempted from […]

April 8, 2020

Indonesia: To your doorstep: Pertamina launches gas, fuel delivery service amid pandemic

Indonesia’s largest fuel distributor, state-owned Pertamina, has launched a free door-to-door delivery service for customers in Pekanbaru, Riau, to facilitate physical distancing amid the COVID-19 pandemic. The energy giant deployed four motorcycles earlier this week to deliver gasoline, diesel, lubricants and 5.5-kilogram liquefied petroleum gas (LPG) canisters around Pekanbaru. The service is available from 8 a.m. […]

April 8, 2020

Government debt issuance to triple to $62b as Indonesia fights COVID-19

Indonesia’s new debt is expected to triple this year as the government struggles to fund its fight against the COVID-19 pandemic. According to the newly enacted Presidential Regulation (Perpres) No. 54/2020 on the 2020 state budget revision issued on April 3, the government has increased deficit spending to Rp 1 quadrillion (US$61.5 billion) this year, a […]

April 7, 2020

Indonesia’s COVID-19 stimulus worth 2.5% of GDP, lower than Singapore, Malaysia

Indonesia has rolled out a fiscal stimulus worth trillions of rupiah and widened its state budget deficit beyond the 3 percent legal limit to afford a fight against the COVID-19 outbreak, but the figure seems small compared to what other countries are spending. The government has set aside Rp 436.1 trillion (US$26.36 billion) for the […]

April 7, 2020

Indonesia: Emerging currencies under threat from COVID-19 face further declines

Emerging-market currencies beaten down by COVID-19 fallout may face a fresh round of selling ahead of the foreign-exchange reserves data that are expected to show big drawdowns. Mexico’s weekly data is set to come out on Tuesday, along with figures from Indonesia, Taiwan, the Philippines, China, Malaysia, South Africa and Russia. That comes on the […]

April 7, 2020

Indonesia: BI to dominate ownership of ‘pandemic bonds’ as debt burden grows

Bank Indonesia (BI) will dominate ownership of the nation’s “pandemic bonds” as the government seeks to safeguard the economy from COVID-19 at the risk of a rising debt burden, including from its longest ever 50-year bond tenure, economists say. Bank Permata chief economist Josua Pardede said that foreign investors would be reluctant to buy risky […]

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