The central bank of the Philippines (BSP) is ready to increase the purchasing value of government bonds to 500 billion PHP (9.846 billion USD) in order to provide extra lifeline to the government amid the COVID-19 pandemic, said a banking official.
Boosting public investment disbursement is an important channel for the country’s socio-economic growth, Prime Minister Nguyen Xuan Phuc said at a meeting in Hanoi on March 27 to prepare for a teleconference between the Government and localities on March 31.
Indonesia’s rupiah (IDR) on March 18 touched the lowest level since the 1998 crisis as fears of a global recession over the rapid spread of the novel coronavirus disease (COVID-19) prompts investors worldwide to dump financial assets.
Bank Indonesia (BI) has vowed to maintain the country’s financial market stability amid expectations that economic growth will slow due to the spread of the COVID-19 outbreak.
Up to 4.61 trillion VND (198.5 million USD) has been raised by the State Treasury through the latest auction of Government bonds (G-bonds) on the Hanoi Stock Exchange.
The financial market in 2020 will become much more unpredictable and less active than the predictions made at the end of 2019 due to impact caused by the 2019 novel coronavirus (2019-nCoV) epidemic, according to a financial analyst.
The foreign currency reserves of Indonesia last month reached 131.7 billion USD, nearing the 131.9 record level in January 2018 and 2.5 billion USD higher than the figure of the end of last year, the Bank Indonesia (BI) reported on February 7.
Over 1.1 trillion VND (47.8 million USD) worth of government bonds has been raised by the State Treasury through a recent auction at the Hanoi Stock Exchange (HNX).
The transport sector is striving to construct around 4,000-5,000km of expressways in the next 10 years, towards forming a national highway system in order to improve connectivity among regions nationwide, said Minister of Transport Nguyen Van The.
Governor of the Bank Indonesia Perry Warjiyo has said foreign capital flow to the country totalled 16.07 billion USD in 2019 despite global economic uncertainties.
The Government has prepared a backup plan to fund the North-South Expressway (NSE) amid fears that private investors might not be financially capable of carrying out the mega project, the transport minister has said.
The Ministry of Planning and Investment has proposed withholding investment next year for projects that had been slow to disburse their allocated funding in 2019.
The Indonesian government has expanded the budget deficit to 2.2 percent of the gross domestic products (GDP) followed the potential short fall on tax revenues around 200 trillion Rp (14.29 billion USD).
Thai Minister of Finance Uttama Savanayana has announced that the government plans to launch a tax refund mobile application by the end of this month in a bid to increase tourism spending.
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