Latest news with #SriMulyaniIndrawati
Reuters
2 days ago
- Business
- Reuters
Indonesian government plans to place funds in state banks to provide liquidity
JAKARTA, July 28 (Reuters) - Indonesia's government plans to inject funds into four state-owned banks this year to boost liquidity for providing low-interest loans to village cooperatives, Finance Minister Sri Mulyani Indrawati said on Monday. The initiative aims to support President Prabowo Subianto's more than 80,000 village cooperatives and drive economic growth to 8% from the current 5%, Indrawati told reporters. The four banks are Bank Rakyat Indonesia ( opens new tab, Bank Negara Indonesia ( opens new tab, Bank Mandiri ( opens new tab and Bank Syariah Indonesia ( opens new tab, Indrawati said. "This enables the four banks to provide loans to village cooperatives at a low interest rate of 6%," she said. Size of the fund placement is still being discussed within the government, but they will consider the size of total loan demand from the cooperatives, Febrio Kacaribu, a senior official at the ministry, told reporters separately. The village cooperatives programme was launched last week and the government has said that each of the cooperatives could apply for a loan to the state banks up to 3 billion rupiah ($183,655). ($1 = 16,335.0000 rupiah)
Business Times
2 days ago
- Business
- Business Times
Indonesia eyes stimulus package, rate cuts to ensure 5% growth
INDONESIA pledged to use its fiscal and monetary firepower to ensure economic growth maintains its 5 per cent pace this year. Growth was the focal point of a quarterly meeting of top economic policymakers on Monday (Jul 28), as Indonesia faces weakening consumption and manufacturing at home, as well as the threat of higher tariffs and slowing trade abroad. 'The message this time is clear: we at the KSSK are working together to maintain economic growth amid a financial system that remains stable,' Finance Minister Sri Mulyani Indrawati said at a briefing in Jakarta. The KSSK is Indonesia's Financial System Stability Committee, comprising the finance ministry, the central bank, the banking regulator and deposit insurance agency. The government is preparing a third stimulus package aimed at boosting domestic transportation, tourism and economic activity in the regions during the year-end holidays, according to Indrawati. The stimulus aims to maintain Indonesia's gross domestic product growth at around 5 per cent this year, she said. A US$1.5 billion package of measures rolled out in June – which included salary and social aid top-ups as well as toll discounts – likely supported GDP growth in the second quarter, she added. Electricity discounts and food assistance were also given out at the start of the year. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Meanwhile, Bank Indonesia (BI) governor Perry Warjiyo reiterated that he continues to look for room to cut interest rates and support economic growth. 'The magnitude and timing of rate cuts will be in accordance with global and domestic dynamics,' he said, adding that core inflation will likely be around 2.4 per cent this year, below the midpoint of the 1.5-3.5 per cent target. BI eased monetary policy anew at its July meeting, for a total of 75 basis points in rate cuts so far in 2025. It also plans to continue reducing the issuance and yields for its rupiah securities, Warjiyo said. 'We will use fiscal, monetary, and regulatory instruments to maintain the economic growth momentum. We will also collaborate to anticipate risks arising from global dynamics,' Indrawati said. BLOOMBERG
The Star
7 days ago
- Business
- The Star
Kangaroo bonds to be issued next month
Indonesia Finance Minister Sri Mulyani Indrawati (second, right). — The Jakarta Post JAKARTA: Finance Minister Sri Mulyani Indrawati has revealed that the first Australian-dollar-denominated Indonesian government obligations, or kangaroo bonds, are to be offered in August, but Australian investors appear to be wary of buying them. The minister shared the news in an opinion editorial for The Jakarta Post written together with Australian Treasurer Jim Chalmers and published last Saturday. 'Subject to market conditions, Indonesia will also issue its first-ever Australian-denominated 'Kangaroo bond' in August, a vote of confidence and meaningful step forward, reflecting our deep bilateral ties,' wrote the two senior officials. They went on to say that the issuance 'will open new pathways for Australian investors to find quality investment products, support Indonesia's growth and strengthen financial integration'. Online portal Investopedia defines the kangaroo bond as a type of bond issued in the Australian market by nonresidents, denominated in Australian dollars and subject to Australian securities regulation. The plan to issue kangaroo bonds was first unveiled in May by Sri Mulyani's deputy Thomas Djiwandono, who revealed the government is also pondering the issuance of yuan-denominated Dim Sum bonds. Suminto, the ministry's director general of budget financing and risk management, said in a press conference in May that, beyond expanding the foreign investor base, the move could help reduce borrowing costs and serve as a hedge against currency risks. However, he declined to disclose the size of the planned issuance. 'We are taking a flexible and opportunistic approach,' said Suminto. — The Jakarta Post/ANN
Barnama
23-07-2025
- Business
- Barnama
Top News Headlines In Cambodia, Indonesia. Laos, Myanmar, Singapore, Thailand & Vietnam: July 23, 2025
The ASEAN Regional Mine Action Centre and the Azerbaijan National Agency for Mine Action are strengthening inter-regional cooperation in mine clearance. The partnership will assist in sharing knowledge on post-conflict challenges, especially mine clearance operations. The 20th Asia Media Summit kicked off in Siem Reap on Tuesday, attended by delegates from 37 countries. Held under the theme 'Celebrating Two Decades of Excellence and Beyond', the summit's focus is on the rise and threat of fake news. GRAFT VERDICT SEEN AS SETTING BAD PRECEDENT -- THE JAKARTA POST The verdict in the corruption case of former trade minister Thomas Lembong has stoked concerns among legal experts, who have questioned the ruling's legal basis and warned it could set a dangerous precedent for silencing opposition figures. CUTS 1,000 FINANCE MINISTRY JOBS AMID DRIVE FOR LEANER BUDGET -- JAKARTA GLOBE Finance Minister Sri Mulyani Indrawati said Tuesday that nearly 1,000 civil servants at the Finance Ministry have been laid off as part of the government's broader efforts to streamline spending and boost efficiency. LAOS AIMING ROBUST BILATERAL TRADE -- VIENTIANE TIMES Laos and Australia are working to improve their existing bilateral trade ties by attracting high-quality investments to develop Loa' economy. Both governments launched the Laos-Australia Investment Facilitation and Transformation for Economic Resilience programme last month. TO NURTURE YOUNG LAO FOOTBALLERS -- VIENTIANE TIMES Asia's premier international youth football tournament SingaCup, will continue to collaborate with the Lao Football Federation to develop the sport at the grassroots level. The partnership aims to expand international exposure and nurture emerging young talents. MYANMAR ORIGINAL ETHNIC COSTUMES -- THE GLOBAL NEW LIGHT OF MYANMAR The Ministry of Religious Affairs and Culture will conduct a survey on Myanmar's ethnic groups' traditional clothing to determine the appropriate national costumes. The survey will assist in removing misconceptions about ethnic costumes and identify their origins. 2. ASEAN FORUM TO PROTECT FISHERIES SECTOR -- THE GLOBAL NEW LIGHT OF MYANMAR Myanmar is hosting the 17th ASEAN Fisheries Consultative Forum and the 33rd ASEAN Fisheries Working Group Meeting from July 22 to 25. Fishing zoning, sustainable small-scale fisheries, fish stock recovery and the impact of climate change will be discussed. SINGAPORE DIGITAL BANKS FINDING THEIR NICHE IN AREAS LIKE SMES AS THEY NARROW LOSSES IN 2024 -- THE STRAITS TIMES Singapore's three digital banks serving retail customers – Trust Bank, GXS Bank and MariBank – appear on track to turn the corner more than two years after they started operations. ANNOUNCES TRADE DEAL WITH JAPAN, INCLUDING 15% TARIFF -- CNA/AGENCIES US President Donald Trump on Tuesday (Jul 22) announced a trade deal with Japan that he said will result in Japan investing US$550 billion into the United States and paying a 15 per cent reciprocal tariff. THAILAND 1. EMERGENCY ALERT SYSTEM ON STANDBY AS STORM WIPHA NEARS THAILAND -- THE NATION DDPM says it is fully prepared to issue emergency alerts for areas forecast to be affected by tropical storm Wipha. 2. VISA HELP FOR LABOUR 'IN LIMBO' -- BANGKOK POST The cabinet on Tuesday approved a six-month extension for Cambodian migrant workers employed in border provinces. VIETNAM SECTOR FACES STRONG HEADWIND -- VIETNAMPLUS Vietnam's postal and delivery sector is experiencing impressive growth but profits are slim due to the presence of both international and local players. Total volume of postal items reached about 1.8 billion in the first half of this year. PLAN TO IMPROVE WOMEN'S HEALTH -- VIETNAMPLUS The Ministry of Health and Roche Vietnam are teaming up to improve women's health. The ministry plans to develop a national action plan to improve screening, diagnosis, treatment and management of breast and cervical cancer. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
Bloomberg
21-07-2025
- Business
- Bloomberg
Indonesia Plans First Kangaroo Bond in Boost to Australian Ties
Indonesia is set to issue its first Australian dollar-denominated debt as the two countries strengthen their financial partnership. 'Subject to market conditions, Indonesia will also issue its first-ever Australian dollar-denominated 'Kangaroo bond' in August — a vote of confidence and meaningful step forward,' the nations' financial chiefs, Sri Mulyani Indrawati and Jim Chalmers, said in a statement Saturday. 'This will open new pathways for Australian investors to find quality investment products, support Indonesia's growth and strengthen financial integration.'
