#Finance
Government debt reaches Rp8,319.2 trillion by February 2024
The government's debt has reached Rp8,319.2 trillion (US$522.3 billion) by February 29, 2024, an increase from the end of January, which amounted to Rp8,253.09 trillion. This government debt is equivalent to approximately 39.06 percent of the gross domestic product (GDP), continuing the all-time high trend.
Inalum fine-tunes Pre-IPO plans
PT Indonesia Asahan Aluminium (Inalum) continues to prepare for its pre-initial public offering (IPO) this year.
Government still owes fertilizer subsidy of nearly Rp1 trillion to Pupuk Indonesia
State-owned fertilizing holding company PT Pupuk Indonesia recorded the government's debt to settle fertilizer subsidies almost complete, with a remaining balance of nearly Rp1 trillion (US$ 63.5 million) for the period of 2020-2021.
Bank Central Asia reports strong performance at 25.8% year-on-year growth in net profit
PT Bank Central Asia Tbk (BCA) and its subsidiaries have announced an impressive net profit of IDR 36.4 trillion, signifying a robust 25.8% year-on-year growth in earnings up to September 2023.
Citibank Indonesia and Coca-Cola Europacific Indonesia signed MoU for a sustainable supply chain finance
Citibank, N.A. Indonesia (Citi Indonesia) has signed a collaboration agreement with Coca-Cola Europacific Partners Indonesia (CCEP Indonesia) to implement a sustainable supply chain finance (SSCF) program, amounting to approximately US$ 30 million (IDR 470.95 billion) with a 90-day tenor.
Indonesian government debt rises to Rp8,253.09 trillion
The Ministry of Finance recorded the government's debt position in January 2024 at Rp8,253.09 trillion or equivalent to 38.75 percent of gross domestic product (GDP).
Economic conditions of two World giants that worry Sri Mulyani
Indonesian Minister of Finance Sri Mulyani Indrawati has been carefully monitoring the global economic situation, which is predicted to continue to slowing down in 2024.
Five largest creditors to private Indonesian entrepreneurs
The Indonesian central bank (BI) has recorded the five largest creditors for Indonesian private foreign debt in the past 10 years, namely Singapore, the United States, China, Hong Kong, and Japan. Overall, as of November 2023, private foreign debt decreased by 2.3 percent compared to the same period in 2022 (year-on-year/yoy) to US$196.2 billion.
Bridging funding gap in RUPTL projects: PLN asked to engage int’l partners
The Ministry of Energy and Mineral Resources (ESDM) asks State electricity company PT PLN to expand its business scheme related to fundraising for projects outlined in the Electricity Supply Business Plan (RUPTL) 2021-2030 as a measure to provide an alternative investment avenue currently unavailable to PLN.
Bank Indonesia continues progress on digital rupiah, focusing on concept and unveils its roadmap
Bank Indonesia (BI) ensured that the Garuda Project or digital rupiah currency is still on-progress. Currently, Bank Indonesia is in the process of finalizing proof of concept documents for digital rupiah and establishing a roadmap.
Bank Indonesia's new export regulation bolsters national economy and reduces foreign debt dependency
Bank Indonesia (BI) imposed a new regulation on foreign reserves originated from exports (Devisa Hasil Export - DHE) in accordance with Presidential Regulation No. 36 of 2023 concerning rules requiring exporters of natural resources to deposit 30% of their foreign exchange domestically.
Bank Central Asia suffers massive data leak exposing 6.4 million customer records
Six million customers' data were leaked from PT Bank Central Asia Tbk (BBCA)'s MyBCA application database by hackers.