Indonesia has signed a loan deal with Australia amounting to AU$ 1.5 billion for Covid-19 relief efforts, Indonesian finance minister Sri Mulyani Indrawati announced on Thursday.
Indonesia has signed a loan deal with Australia amounting to AU$ 1.5 billion for Covid19 relief efforts, Indonesian finance minister Sri Mulyani Indrawati announced on Thursday.
Indrawati during a press briefing said that, “All parts of society are hurt by this COVID-19 and the role of fiscal policy together with other instruments, like monetary policy, is very critical during this difficult time”.
She also added that this loan, “ is a support that we really appreciate”. The loan will be directed to offer relief to the effects of the pandemic such as helping micro, small, and medium enterprises (MSMEs), the health sector and social protection.
The loan will also supplement the government’s budget of $47 billion in response to the pandemic, as the Southeast Asian country struggles with a growing deficit of 6.34 percent.
Indonesia now has a total of 448,118 confirmed cases of Covid-19 based on the latest World Health Organization data. The country still has the most number of cases in the Southeast Asia region based on the updated data of John Hopkins University Coronavirus Resource Center.