Indonesia exempt international routes from flight ban
Indonesian authorities have prohibited domestic air travel from April 24 to June 1, representing a major change for a market that has so far been less affected by COVID-19-related flight suspensions than many other countries. The move is part of a larger effort to restrict…
Northstar Group secures first tranche of $800 million to be invested in Indonesia, SE Asia
Indonesian private equity firm Northstar Group announced the closure of its fifth flagship funds to be invested in companies and start-ups working on COVID-19 recovery and sectors such as consumption, digital economy and finance. The funds, representing one-third of the company’s US$800 million target, will be invested in…
Indonesia and COVID-19: What the World Is Missing
Yes, the Indonesian government has stumbled. But civil society has been rising to the occasion. “For every tourist lucky to leave there are millions of Indonesians with no way out” — this was the conclusion of an ABC News report in late March into the…
ADB approves US$1.5b loan to support Indonesia’s pandemic response
The Asian Development Bank (ADB) has approved a US$1.5 billion loan to support Indonesia’s efforts to combat the impact of the COVID-19 pandemic on public health and the economy. ADB president Masatsugu Asakawa said on Thursday the pandemic had a devastating health, social and economic…
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…
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…