YAKARTA, August 6 (Reuters) – Indonesia’s central bank has purchased 82.1 trillion rupees ($5.63 billion) of government bonds in a personal placement, the first transaction under a COVID-19 cargo distribution program with the government, the Ministry of Finance said on a Thursday.
The Bank of Indonesia and the government had agreed on a $40 billion debt monetization plan, and the central bank pledged to buy $28 billion in bonds while giving up interest payments.
The government has promised faster stimulus spending to combat the effects of the pandemic. The economy 5.32% year-on-year at the time quarter, the first quarterly contraction in more than two decades. ($1 – 14580,0000 rupees) (Report through Tabita Diela; Written through Fransiska Nangoy; edited through John Stonestreet)
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