Indonesia's central bank to buy 30 billion USD of Gov’t bonds
Indonesia’s central bank will purchase government bonds worth up to 439 trillion rupiah (30.46 billion USD) in 2021 and 2022 under a new agreement with the country's Ministry of Finance, according to Reuter, citing CNBC Indonesia's report on August 23.
The symbol of Bank Indonesia (Source: Bloomberg)Hanoi (VNA) - Indonesia’s central bank will purchase government bonds worth up to 439 trillion rupiah (30.46 billion USD) in 2021 and 2022 under a new agreement with the country's Ministry of Finance, according to Reuter, citing CNBC Indonesia's report on August 23.
The TV channel cited a government document, saying that the proceeds, up to 215 trillion rupiah for 2021 and 224 trillion rupiah in 2022, will be used to fund the government’s vaccination campaign and other COVID-19 relief measures.
Accordingly, Bank Indonesia (BI) will relinquish interest payments for bonds worth 58 trillion rupiah in 2021 and 40 trillion rupiah in 2022, but the rest of the notes will carry a floating interest rate equal to the central bank’s three-month reverse repo rate.
The financing scheme is similar to an agreement BI signed with the finance ministry last year to fund increasing healthcare and welfare bills amid the COVID-19 pandemic./.
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