Japan to provide almost 16 bln USD to Indonesia
Japan will be ready to provide up to 15.7 billion USD to Indonesia through a currency
swap if the Southeast Asian country experiences a financial crisis.
Japan will be ready to provide up to
1.5 trillion yen (15.7 billion USD) to Indonesia through a currency
swap if the Southeast Asian country experiences a financial crisis,
Japan’s Finance Ministry has said.
Japan and Indonesia reached a basic deal on the currency swap arrangement in Tokyo, the Japanese ministry was quoted by Kyodo News as saying on July 6. The two countries are likely to sign an official pact by the end of this year.
The currency swap is part of Japan's set of new programmes, announced in May, to help other Asian countries in the event of a financial crisis.
Under the framework, a crisis-hit Asian country struggling with a shortage of foreign currencies could borrow yen for three months through a currency swap.
Japan has said it would be ready to secure about a total of 6 trillion yen for the framework. The funds will come from its abundant foreign reserves.
Japan has also been in talks on the new currency swap arrangement with the Philippines and Thailand, according to the ministry./.
Japan and Indonesia reached a basic deal on the currency swap arrangement in Tokyo, the Japanese ministry was quoted by Kyodo News as saying on July 6. The two countries are likely to sign an official pact by the end of this year.
The currency swap is part of Japan's set of new programmes, announced in May, to help other Asian countries in the event of a financial crisis.
Under the framework, a crisis-hit Asian country struggling with a shortage of foreign currencies could borrow yen for three months through a currency swap.
Japan has said it would be ready to secure about a total of 6 trillion yen for the framework. The funds will come from its abundant foreign reserves.
Japan has also been in talks on the new currency swap arrangement with the Philippines and Thailand, according to the ministry./.
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