Bank Indonesia Strikes Deal for Repo Line From US Fed
Bank Indonesia, the country’s central bank, has struck a deal for a $60 billion repurchase facility with the New York Federal Reserve as a second line of defense to prop up the country’s dollar liquidity during the global shortage triggered by the Covid-19 pandemic. Bank Indonesia Governor Perry Warjiyo said 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,…
Indonesia borrows 7 billion USD to support COVID-19 fight
Indonesia will receive loans worth about 7 billion USD from the World Bank, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) to finance its fight against the raging COVID-19 pandemic. Indonesia will receive loans worth about 7 billion USD from the World…
Indonesia Gets Innovative in Raising $62 Billion for Virus Fight
The United States leads the world in cases of COVID-19. We’ll provide the latest updates on coronavirus cases, government response, impacts to our daily life, and more. What is the latest news? Trump’s Plan to Reopen the Nation Gives Governors Broad Authority to Lift Coronavirus…
Tens of thousands of workers across Indonesia laid off because of COVID-19 outbreak
Tens of thousands of workers across Indonesia have lost their jobs as economic activity slows to a crawl as a result of the COVID-19 outbreak. In Central Java, 24,249 workers have been laid off while 191 companies employing 148,791 workers have been affected by the…
Will the latest COVID-19 stimulus package boost business activities?
Indonesia has scrapped a budget deficit cap introduced after the Asian financial crisis to help shield the economy from the outbreak, where budget deficit cap has been pushed to 5 percent of GDP this year. This allowed the government to allocate 405.1 trillion rupiah ($24.8…
Biggest Market Caps Drop By Sectors Amid COVID-19 in 1Q 2020
During Pandemic COVID-19, market capitalization has decline across sectors, with significant variation to the extend of the decline. According to Corporate Performance Analytics, S&CF Insights, S&P Global, all 3000 global top companies share declined with in 1Q of 2020, with the biggest drop on commercial…
World Employment Outlook 2020-2023
Of the 3.30 billion workers around the world in 2019, 1.75 billion workers are people in wage and salaried employment or so-called formal workers. Other than that, there are self-employee, own-account and contributing family workers, who are typically employed informally, work in vulnerable conditions and…
Rupiah may slide to Rp 20,000 per US dollar in worst-case scenario
The rupiah could hover around Rp 17,500 or even slide to as low as Rp 20,000 against the US dollar, the weakest in history, if Indonesia’s economy contracts and the COVID-19 downturn is prolonged, Finance Minister Sri Mulyani Indrawati has warned. The local currency, already…
Global Investors ‘Confident’ With Indonesian Economy: Central Bank
Global investors still have confidence in the Indonesian economy and may back a drive to buy new debt securities issued to finance the government’s stimulus package for mitigating the Covid-19 pandemic, Perry Warjiyo, the governor of Bank Indonesia, the country’s central bank, said on Wednesday….