KONTAN.CO.ID - JAKARTA. Indonesia is planning an $8.6 billion bailout for 12 state-owned firms, to reduce the impact of the coronavirus pandemic, mostly as cash compensation and working capital investments, according to government documents reviewed by Reuters. The government has proposed to parliament to provide 128.04 trillion rupiah ($8.63 billion) in financial support to the companies, according to Ministry of Finance documents presented in a May 11 meeting with parliament's financial commission. A finance ministry spokeswoman on Sunday confirmed the authenticity of the documents and that they were used in the parliament presentation. But, the documents were used in an early stage consultation with lawmakers and still need President Joko Widodo's approval, she said.
Indonesian government plans $8.6 billion coronavirus bailout for state firms
KONTAN.CO.ID - JAKARTA. Indonesia is planning an $8.6 billion bailout for 12 state-owned firms, to reduce the impact of the coronavirus pandemic, mostly as cash compensation and working capital investments, according to government documents reviewed by Reuters. The government has proposed to parliament to provide 128.04 trillion rupiah ($8.63 billion) in financial support to the companies, according to Ministry of Finance documents presented in a May 11 meeting with parliament's financial commission. A finance ministry spokeswoman on Sunday confirmed the authenticity of the documents and that they were used in the parliament presentation. But, the documents were used in an early stage consultation with lawmakers and still need President Joko Widodo's approval, she said.