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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Christina Desy
In an effort to control the amount of foreign loans to Indonesian entities, the government and Bank Indonesia (BI) are currently discussing issuing a regulation on foreign loans to the private sector—including state-owned companies (BUMN).
According to BI, as of June 2014, foreign loans to Indonesia have reached USD 284.9 billion. This amount increased by USD 8.6 billion from the last quarter ending in March. The data indicates the private sector contributed to 53.8% of this amount.
Mirza Adityaswara, Senior Deputy Governor at BI, stated that the regulation will aim to encourage the private sector to be more prudent in organizing their businesses. In line with this approach, the regulation will focus on foreign exchange liability ratios—loans that must be paid to foreign lenders. Businesses must maintain their liability ratio, so that it is lower than their foreign exchange assets.
“Foreign loans are necessary. However, we must manage their macro-economic risk. By hedging, for example,” Mr. Adityaswara added.
Mr. Adityaswara further asserted that the regulation is being initiated based on the important consideration of controlling foreign loans from being used unproductively.
Mr. Adityaswara’s opinion is shared by Juda Agung, Executive Director at BI’s Economic and Monetary Policy Department. Mr. Agung said that the regulation will also provide guidelines on mitigating risks arising from offshore loans, including foreign currency liquidity risks.
“This is not a prohibition from obtaining foreign loans. Corporations are still allowed to do so, yet they must be carried out carefully. They must apply a hedging system to their offshore loans,” said Mr. Agung.
As the provisions under the regulation will be primarily related to aspects of Indonesia’s macro-economy, the draft will also be forwarded to the Forum for Financial System Stability Coordination (Forum Koordinasi Stabilitas Sistem Keuangan – “FKSSK”), which consists of the Minister of Finance, Governor of BI, Chairman of Board of Commissioners of the Financial Services Authority (OJK), and the Chairman of the Deposit Insurance Institution (LPS).
(hot/kc)
Fathan Qorib, Christina Desy
In an effort to control the amount of foreign loans to Indonesian entities, the government and Bank Indonesia (BI) are currently discussing issuing a regulation on foreign loans to the private sector—including state-owned companies (BUMN).
According to BI, as of June 2014, foreign loans to Indonesia have reached USD 284.9 billion. This amount increased by USD 8.6 billion from the last quarter ending in March. The data indicates the private sector contributed to 53.8% of this amount.
Mirza Adityaswara, Senior Deputy Governor at BI, stated that the regulation will aim to encourage the private sector to be more prudent in organizing their businesses. In line with this approach, the regulation will focus on foreign exchange liability ratios—loans that must be paid to foreign lenders. Businesses must maintain their liability ratio, so that it is lower than their foreign exchange assets.
“Foreign loans are necessary. However, we must manage their macro-economic risk. By hedging, for example,” Mr. Adityaswara added.
Mr. Adityaswara further asserted that the regulation is being initiated based on the important consideration of controlling foreign loans from being used unproductively.
Mr. Adityaswara’s opinion is shared by Juda Agung, Executive Director at BI’s Economic and Monetary Policy Department. Mr. Agung said that the regulation will also provide guidelines on mitigating risks arising from offshore loans, including foreign currency liquidity risks.
“This is not a prohibition from obtaining foreign loans. Corporations are still allowed to do so, yet they must be carried out carefully. They must apply a hedging system to their offshore loans,” said Mr. Agung.
As the provisions under the regulation will be primarily related to aspects of Indonesia’s macro-economy, the draft will also be forwarded to the Forum for Financial System Stability Coordination (Forum Koordinasi Stabilitas Sistem Keuangan – “FKSSK”), which consists of the Minister of Finance, Governor of BI, Chairman of Board of Commissioners of the Financial Services Authority (OJK), and the Chairman of the Deposit Insurance Institution (LPS).
(hot/kc)