Indonesia to borrow US$4.2b from World bank, ADB to cover budget deficit: govt official
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[JAKARTA] Indonesia will borrow US$4.2 billion in multilateral loans from the World Bank and Asian Development Bank to cover a widening budget deficit, a finance ministry official said on Tuesday. "We're choosing foreign sources because the market is still volatile and Indonesian growth is slowing," Scenaider Siahaan, an official with the finance ministry's debt management office, told reporters.
Siahaan said the loans would strengthen forex reserves, which the central bank said fell to US$103 billion this week.
Indonesia will issue around 500 trillion rupiah worth of bonds in 2016, of which up to 30 per cent could be in foreign currency, Siahaan added.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
