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Sharing the Burden

Tuesday, June 9, 2020

The Finance Ministry and Bank Indonesia are formulating further agreements to finance the economic recovery. The budget is suffering under massive pressure.

(L-R) Chairman of OJK’s Board of Commissioners Wimboh Santoso, Finance Minister Sri Mulyani, and BI Governor Perry Warjiyo at the finance minstry office, Jakarta, January 2019./ Tempo/Tony Hartawan. tempo : 1714180347100.

THRONGS of buyers lined up for the finance ministry’s auction of government bonds (SUN) on Tuesday, June 2. It was oversubscribed up to 5.2 times. At the end, the state only obtained Rp24.35 trillion for seven series of government securities (SBN) from a total offer of Rp105.271 trillion.

From that amount, Rp2.09 trillion was an offer from the central bank, Bank Indonesia (BI). The central bank was championed as non-competitive bidder at

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