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ADB, Partners To Help Energy Sector Drive Indonesia’s Growth
MANILA, PHILIPPINES – The Asian Development Bank (ADB) has approved a $500 million loan, including $100 million from the ADB-administered ASEAN Infrastructure Fund, to help stimulate Indonesia’s energy sector, support the government’s reform agenda, and unleash the sector’s potential as a key engine of sustainable economic growth. “Indonesia’s energy sector has suffered severe underinvestment due … Continue reading
Indonesia’s Currency Tumbles For 10th Straight Week Following Fed, Worst In 15 Years
As the U.S. Federal Reserve kept interest rates on hold following the FOMC decision on Thursday, uncertainty on this decision had thus driven Indonesia’s currency into a 10th week of declines, which is its longest losing streak since 2000. U.S. Fed Chief Janet Yellen said that most policy makers want to hike interest rates this year, however … Continue reading
De-Dollarization: Indonesia’s Central Bank Bans Foreign Currencies In Domestic Transactions
Indonesia will ban the use of foreign currencies in its domestic transactions in a move which has drawn criticism, according to a report from The Wall Street Journal (WSJ). Indonesia will ban the use of foreign currencies in its domestic transactions, according to The Wall Street Journal (WSJ). According to the WSJ, Indonesia’s Central Bank has pushed through regulations that will prohibit using … Continue reading
World Bank Ready To Loan Indonesia $11 Billion, In A Sign That U.S. Pushing Back On Chinese-Led AIIB
The World Bank is ready to offer around $11 billion in funding to Indonesia, the lender said on Wednesday, in a sign that the Washington-based institution is pushing back on China’s ambitions to finance projects in Asia via the Asian Infrastructure Investment Bank (AIIB). World Bank President Jim Yong Kim offered Indonesian President Joko Widodo up to $11 … Continue reading
Indonesia Needs New Strategy To Secure Medium-Term Growth
By David Nellor The slowdown in Indonesian growth to 4.7 per cent for the first quarter of 2015 follows a steady quarterly slowdown since the 6.8 per cent peak just over four years ago. Is this slowdown simply a post-commodity boom cyclical downturn, or is it the beginning of an extended period of weakness? The … Continue reading
Indonesian President Widodo Vows To Keep Stock Momentum Alive
Indonesian President Joko “Jokowi” Widodo said on Tuesday that the positive trend of Jakarta Composite Index (JCI) in the Indonesia Stock Exchange (IDX) was evidence of good investor trust in Indonesia and vowed to maintain market momentum with infrastructure spending and implementing policies to boost growth, the Nikkei Asian Review reports. Visiting the Indonesia Stock Exchange (IDX) on Tuesday, … Continue reading
Indonesia’s Rapid Growth Requires More Investment
Key reforms are underway in Indonesia, however rapid economic growth is unlikely before 2016 without strengthening investment growth, according to a recent World Bank report. A fall in global commodity prices amid a slowdown in China has impacted Indonesia’s growth outlook, according to the March 2015 edition of the Indonesia Economic Quarterly (IEQ), titled ‘High Expectations’. According … Continue reading
Indonesia Revokes 6,541 FDI Licences With Investment Plans Of $23 Billion Due Lack Of Progress
The Indonesian government has revoked a total of 6,541 investment permits that were issued between 2007 and 2012 to foreigner investors who had planned to invest a total of $23 billion in the nation, The Wall Street Journal (WSJ) reported on Thursday. Franky Sibarani, the head of the official Investment Board, which promotes investment and issues licenses … Continue reading
Indonesia’s Surprising — Yet Justified — Interest Rate Cut
By David Nellor The Bank Indonesia (BI) surprised everyone when it eased monetary policy at its February meeting. Moving into line with global trends, it cut the policy interest rate by 25 basis points to 7.5 per cent, even though analysts had predicted no change. While the change is surprising, it has a sound rationale … Continue reading
Indonesia’s Bold 2015 Budget Strategy
By David Nellor No more ‘business-as-usual’ is the Jokowi government’s message in the 2015 budget. Fuel subsidies have been cut, infrastructure spending is to be ramped up, and revenues are projected to rise dramatically. These three steps deliver a 1.9 per cent fiscal deficit, down from 2.2 per cent in 2014. This leaves space for … Continue reading
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