Indonesia attracts 4.1 billion USD worth of net inflow
Indonesia posted a net inflow of 4.1 billion USD from April to May 14, after recording a net outflow of 5.7 billion USD in the first quarter of 2020, said Bank Indonesia (BI) Governor Perry Warjiyo on May 19.
Hanoi (VNA) – Indonesia posted a net inflow of 4.1billion USD from April to May 14, after recording a net outflow of 5.7 billionUSD in the first quarter of 2020, said Bank Indonesia (BI) Governor PerryWarjiyo on May 19.
According to the official, the foreign capital inflow began toimprove again from April 2020 driven by easing global financial marketuncertainties, high competitiveness of domestic financial assets, and favourableoutlook for the Indonesian economy.
Meanwhile, foreign exchange reserves increased to 127.9billion USD at the end of April, which was equivalent to financing 7.8 monthsof imports.
The figure is more than enough to meet import and debtpayments and exchange rate stabilization, Perry said.
The central bank also estimated the current account deficitin 2020 to be below 2 percent of gross domestic product (GDP) from an initialestimate of 2.5-3 percent of GDP./.
Bank Indonesia (BI) has directly purchased 1.7 trillion Rp (108 million USD) worth of sharia sovereign bonds during an auction held by the government in its first such purchases in the primary market.
The Bank Indonesia (BI) has injected 503.8 trillion Rp (around 32.7 billion USD) into banks and the debt market to stabilise the rupiah and help support the government’s financing needs to combat the economic shocks of the COVID-19 pandemic.
The Bank Indonesia (BI) on May 6 committed extra efforts to bolster the economy in the context that the country’s economic growth is forecast to weaken 0.4 percent in the second quarter due to coronavirus containment measures.
Since the start of the COVID-19 crisis, Bank Indonesia (BI) has been strengthening its policy mix to stabilise the rupiah, control inflation, support financial system stability and prevent a further decline in economic activities.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Bank Indonesia Governor Perry Warjiyo (Photo: BI) 
