Indonesia to offer 62.3 billion USD in bonds in H2 to finance coronavirus fight
Indonesia is preparing to offer 900.4 trillion Rp (62.35 billion USD) worth of sovereign debt papers (SBN) in the second half of the year as debt financing swells significantly to fund the country’s coronavirus response, Jakarta Post reported.
Workers count rupiah bills at a money changer in Jakarta. (Photo: thejakartapost)
Jakarta (VNA) – Indonesia ispreparing to offer 900.4 trillion Rp (62.35 billion USD) worth of sovereigndebt papers (SBN) in the second half of the year as debt financing swellssignificantly to fund the country’s coronavirus response, Jakarta Postreported.
The Indonesian government had raised 630.5trillion Rp worth of SBN as of June this year, including 2.5 billion USD from athree-tranche global sukuk (sharia-compliant bond) last month, according to the coountry's Finance Ministry’s financing strategy and portfolio director, Riko Amir.
President JokoWidodo signed in June Perpres No. 72/2020, a presidential regulation thatregulates an increase in state spending and a widening state budget deficitamid Indonesia’s fight against the coronavirus pandemic.
The Indonesian government now officiallystates that the 2020 state budget deficit is expected to reach 1.03 quadrillionRp or 6.34 percent of gross domestic product (GDP). Aprevious presidential regulation, Perpres No. 54/2020, which also amended thebudget, stipulated a deficit of 5.07 percent.
The governmenthas again increased its planned spending on Indonesia’s battle against theCOVID-19 pandemic amid plunging tax revenue and a widening state budget deficit.
It is now setting aside 695.2trillion Rp in funds for healthcare and economic stimulusspending to cushion the impact of the outbreak. This is the latest increasefrom the previous allocation of 677.2 trillion Rp, as the government ups itsbudget allocation for labor-intensive industries and regional administrations./.
The Indonesian Finance Ministry announced on July 3 that the country has raised 100 billion JPY (930 million USD) from the issuance of five-tranche Samurai bonds to offset the national budget deficit and fund the response to the COVID-19 pandemic.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
Workers count rupiah bills at a money changer in Jakarta. (Photo: thejakartapost) 
