Indonesia’s forex reserves edge up in May
The Indonesian central bank’s foreign exchange reserves (forex) drifted up further in May as relatively stable rupiah led the lender to carry out less intervention in the financial market amid huge capital inflows. The foreign exchange reserves of the central bank, Bank Indonesia, settled at…
Indonesia’s Lion Air to resume domestic flights as economy gradually reopens
Indonesia’s Lion Air and its units of Batik Air and Wing Air have decided to restart flights for domestic routes on Wednesday as the country’s economic activities have gradually been picked up, Xinhua news agency reported, according to the airline on Tuesday. The upcoming flights would…
Covid-19 Pushes Inflation to Lowest Level in Two Decades
Indonesia posted its lowest inflation in almost two decades in May as restrictions to curb the coronavirus pandemic continued to suppress demands. The largest economy in Southeast Asia saw its general price level, as measured by the consumer price index (CPI), grow by only 2.19 percent last month compared…
Jakarta Tourist Destinations to Reopen Steadily
Head of Jakarta’s Tourism and Creative Economy Agency Cucu Ahmad Kurnia on Tuesday announced that the city’s tourist destinations will gradually be made available starting on June 13. “This comes after the Jakarta governor Anies Baswedan enacted the transition from the large-scale social restriction to the new normal,”…
Central Bank Confident Indonesia Will Dodge Recession
Bank Indonesia is confident Indonesia’s economy would continue to grow in the second quarter of this year after the country recorded a 2.97 percent gross domestic product growth in the first, its lowest in almost two decades. Speaking in an online press conference on Wednesday, central bank governor Perry Warjiyo said…
Garuda gets $382 million in loans from BRI to fund working capital
National flag carrier Garuda Indonesia has received three loan facilities from state-owned Bank Rakyat Indonesia (BRI) with a total value of US$382 million to fund the airline’s working capital The publicly listed airline received a $50 million short-term loan from the bank with an interest rate based…
Indonesians Tip More Generously During Pandemic: Grab
While the Covid-19 pandemic has hit the economy hard, people are still ordering food and other goods on delivery services and have actually grown more generous toward delivery drivers, giving them larger tips than before the pandemic began, data from Grab Indonesia, the local branch of the Singapore-based ride-hailing,…
BI sees growth bottoming in Q2, pledges to use all instruments to bolster economy
Bank Indonesia (BI) has pledged to go all out to bolster the economy as the central bank has forecast economic growth to weaken 0.4 percent in the second quarter due to coronavirus containment measures. BI Governor Perry Warjiyo projected gross domestic product (GDP) growth to…
Australia-Indonesia FTA to take effect in July
Australia’s free trade deal with Indonesia will finally kick in on July 5, providing a welcome boost for exporters amid the coronavirus-induced economic downturn. Some 15 years after negotiations first began, Indonesian officials have completed the formal ratification of the agreement. It was given the…
Govt Assures Plenty of Rice Stocked for May
The Ministry of Agriculture has ensured the availability of rice throughout May 2020 to remain secure, as 3.5 million tons of rice have been stocked. The Minister of Agriculture, Syahrul Yasin Limpo, has assured the Indonesian people of food security during the COVID-19 pandemic, thereby guaranteeing food…