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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Andin Aditya Rahman
Bank Indonesia (BI) is reminding Indonesian companies in being mindful of their foreign debts, the total of which has reached USD 141 billion, particularly as the economy continues to show signs of slowing down. BI is concerned that failure to do so will mean that companies with large foreign debts will be negatively impacted by the United States Federal Reserve’s tapering off policy, reducing the purchase of financial assets from banks and financial institutions.
Agus Martowardojo, Governor of BI, stated that as the Fed implements its quantitative easing, they will also increase interest rates as a matter of course.
“We must keep this in mind,” stated the Governor in Jakarta on Monday.
In light of the risks of corporate losses associated with increased foreign debts, the Governor implored companies, including state-owned enterprises, to improve the management of their foreign debt.
He further elaborated that private companies and state-owned enterprises must pay attention to discrepancies between the amount of income in rupiah and loans denominated in foreign currencies. According to the Governor, this creates a risk of losses as a result of fluctuating exchange rates.
At the same event, Halim Alamsyah, Deputy Governor of BI, officially launched a new book published by BI titled “Kajian Stabilitas Keuangan No. 22” (Financial Stability Review No. 22).
In the publication, BI applied a stress test to 263 non-financial companies, simulating a worst case scenario hitting the Indonesian economy. The results showed that under such circumstances, 34 percent of the sample group would be deep in the financial danger zone where corporate failure is inevitable.
“The level of corporate failure in the worst case scenario is quite high,” indicated Mr. Alamsyah.
He further elaborated that the test also took economic cycles into consideration, indicating that the weakened exchange rate of the rupiah and sluggish economic growth would affect the performance of Indonesian corporations. The test also measured risks by comparing the ratio of working capital and the total amount of assets owned by each company.
Considering the results of the analysis, Mr. Alamsyah expects that domestic businesses will take future steps to control their debts. If it becomes necessary, BI will cooperate with the Financial Services Authority (OJK) and the Government in carrying out reviews to control corporate debt.
(hot/kc)
Fathan Qorib, Andin Aditya Rahman
Bank Indonesia (BI) is reminding Indonesian companies in being mindful of their foreign debts, the total of which has reached USD 141 billion, particularly as the economy continues to show signs of slowing down. BI is concerned that failure to do so will mean that companies with large foreign debts will be negatively impacted by the United States Federal Reserve’s tapering off policy, reducing the purchase of financial assets from banks and financial institutions.
Agus Martowardojo, Governor of BI, stated that as the Fed implements its quantitative easing, they will also increase interest rates as a matter of course.
“We must keep this in mind,” stated the Governor in Jakarta on Monday.
In light of the risks of corporate losses associated with increased foreign debts, the Governor implored companies, including state-owned enterprises, to improve the management of their foreign debt.
He further elaborated that private companies and state-owned enterprises must pay attention to discrepancies between the amount of income in rupiah and loans denominated in foreign currencies. According to the Governor, this creates a risk of losses as a result of fluctuating exchange rates.
At the same event, Halim Alamsyah, Deputy Governor of BI, officially launched a new book published by BI titled “Kajian Stabilitas Keuangan No. 22” (Financial Stability Review No. 22).
In the publication, BI applied a stress test to 263 non-financial companies, simulating a worst case scenario hitting the Indonesian economy. The results showed that under such circumstances, 34 percent of the sample group would be deep in the financial danger zone where corporate failure is inevitable.
“The level of corporate failure in the worst case scenario is quite high,” indicated Mr. Alamsyah.
He further elaborated that the test also took economic cycles into consideration, indicating that the weakened exchange rate of the rupiah and sluggish economic growth would affect the performance of Indonesian corporations. The test also measured risks by comparing the ratio of working capital and the total amount of assets owned by each company.
Considering the results of the analysis, Mr. Alamsyah expects that domestic businesses will take future steps to control their debts. If it becomes necessary, BI will cooperate with the Financial Services Authority (OJK) and the Government in carrying out reviews to control corporate debt.
(hot/kc)