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Indonesia: National Payment Gateway could burden banks, consumers

The National Payment Gateway (GPN) may¬ burden both consumers and banks as Bank Indonesia (BI)¬ requires¬ all bank customers to have at least one GPN card, ¬ the University of Indonesia’s Institute for Economic and Social Research (LPEM UI) has said. LPEM UI researcher Chaikal Nuryakin said on Wednesday that based on¬ BI‚Äôs target, following the issuance of Article 43 […]

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Indonesia’s finance ministry sees debt market stabilising

JAKARTA: A rise in Indonesian bond yields is unavoidable given the current global situation, but the finance ministry believes the market will stabilise and is preparing alternatives for financing in the mean time, a senior official said on Friday. “For yields to return to 6.3 percent would be hard, but we’re comfortable that the movements […]

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Bank Indonesia hints at reference rate increase

Bank Indonesia (BI)¬ hinted on Friday¬ that it would increase its benchmark seven-day reverse repo rate, which is currently at 4.25 percent,¬ because of¬ consistent external pressure that could potentially disrupt¬ the country’s economy. The BI‚Äôs board of governors will meet on May 16 and 17. ‚ÄúBank Indonesia has large enough room to increase the seven-day reserve repo rate. The […]

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Indonesia: Logistics agency introduces barcode system to monitor commodities

In a bid to ensure the availability of¬ food stocks ahead of the¬ Ramadhan fasting month¬ starting¬ next week, the government has introduced the use of a¬ barcode system to¬ monitor an online database of commodities. The system was launched on Sunday. State Logistics Agency (Bulog) president director Budi Waseso said on Tuesday that the system could prevent hoarding. ‚ÄúThe use […]

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