Although Indonesia still has a relatively low number of confirmed novel coronavirus cases (COVID-19), namely 790 per Wednesday 25 March 2020, it is assumed that this number will rise rapidly in the weeks, perhaps months, to come. Some expats have decided to leave Indonesia and head back to their home country, while others have remained in Indonesia. Those expats who remain here, what can they do to limit risks of becoming infected with COVID-19?
Update COVID-19 in Indonesia: 2,491 confirmed infections, 209 deaths (6 April 2020)
3 April 2020 (closed)
USD/IDR (16,410) -146.00 -0.88%
EUR/IDR (17,734) -169.37 -0.95%
Jakarta Composite Index (4,623.43) +91.74 +2.02%
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While nearly all stock markets in Asia are in positive territory, Indonesia's benchmark Jakarta Composite Index has remained in deep red territory on Friday (20.03.2020). And while the US dollar halted its eight-day rally, the Indonesian rupiah exchange rate continued to weaken beyond the (psychologically sensitive) IDR 16,000 per US dollar threshold (after Bank Indonesia cut its benchmark interest rate by 25 basis points to 4.50 percent one day earlier). Market participants seemingly show an alarming loss of confidence in Indonesian assets.
Indonesian Foreign Affairs Minister Retno Marsudi announced a series of measures in response to the coronavirus outbreak (COVID-19). These measures will take effect per Friday (20.03.2020) at 00.00 Western Indonesia Time (GMT+7).
We were quite surprised to see Indonesia’s latest manufacturing data. From July 2019 to January 2020 Indonesia’s manufacturing activity contracted (seven consecutive months!). Subdued global economic growth and the tariff war between the United States and China were the key reasons for these weak conditions in Indonesia’s manufacturing sector.