ASEAN KEY DESTINATIONS
Indonesia secures $5.5bn in standby loan
Indonesia on Wednesday received $5.5 billion standby loan from international lenders, which can be used if the country fails in obtaining funds from domestic and global market, Finance Minister Sri Mulyani said Wednesday.
Of the total funds, the World Bank will contribute $2 billion, Japan $1.5 billion, Australia $1 billion and the Asian Development Bank $1 billion, the minister said.
"The loan facilities is an important precautionary step, which we have designed to maintain the confidence of investors in overseas and domestic markets," she said during the signing of the commitment at her office here.
The government and the parliament have approved 73.3 trillion rupiah (some $6.1 billion) fiscal stimulus package recently.
The country's budget deficit has been expanded to 2.6 percent of the GDP to some 137 trillion rupiah (some $11.7 billion) from previous target of 2.5 percent of the GDP for this year, as an effort to cushion the impact of the global recession.
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