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Indonesian govt plans US$8.6b Covid-19 bailout for state firms

It plans to offer financial support to them mostly through cash compensation and working capital investments

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Garuda Indonesia, which is trying to restructure US$500 million worth of Islamic bonds that mature next month, would receive 8.5 trillion rupiah in working capital investments.

Jakarta

INDONESIA is planning an US$8.6 billion bailout for 12 state-owned firms, to reduce the impact of the Covid-19 pandemic, mostly as cash compensation and working capital investments, according to government documents reviewed by Reuters.

The government has proposed to...

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