Today, Indonesia's House of Representatives (DPR) passed a new law that restricts financial transactions that are meant for the funding of terrorist or radical organizations. People or institutions engaged in such transactions will face up to 15 years in prison and fines up to US $10.5 million. Previously, Indonesia did not have a law that prevented such transactions. This new law is regarded as a good step for the battle against terrorism.
Update COVID-19 in Indonesia: 4,248,165 confirmed infections, 143,545 deaths (06 November 2021)
6 November 2021 (closed)
Jakarta Composite Index (6,581.79) -4.66 -0.07%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
The Today's Headlines section of Indonesia Investments is a daily updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines will cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.
Bank Indonesia, the country's central bank, continued its key interest rate at the level of 5.75 percent. The interest rate has been at this historic low level for the 12th month in a row. The current policy rate is "considered consistent with the contained inflationary pressure in accordance with its target range of 4.5 percent ± 1 percent in 2013 and 2014," according to the website of Indonesia's central bank.
Bank Indonesia's foreign exchange reserves have fallen by US $4 billion to US $108.8 in January from US $112.8 in December 2012. The current reserves translate to six months of imports and short-term government debt payments. Reasons behind the four percent decline are massive spending by Indonesia's Central Bank to support the weakening IDR rupiah in combination with overseas debt payments.
Today, the governor of the Riau province (on Sumatra), Rusli Zainal, was officially declared a suspect by the Corruption Eradication Board (KPK). Zainal is accused of taking bribes from the management of state-controlled Adhi Karya, a construction company, in exchange for a contract to build facilities for last year's National Games in Pekanbaru, the capital city of Riau. The KPK stated that they found convincing evidence to underpin its allegation.