When KB Kookmin Bank controls Bukopin

The Financial Services Authority (OJK) has been trying to accelerate the consolidation of the banking industry, which has long been overcrowded by weak small and mid-size banks, especially now under the pandemic-induced economic crisis.And as the

When KB Kookmin Bank controls Bukopin

World Bank warns of 2% contraction in Indonesia’s economy this year

The World Bank has warned that the Indonesian economy might contract 2 percent this year if mobility restrictions are further implemented to contain the spread of COVID-19.“Under somewhat harsher assumptions on the global economy of a deeper

Bank Indonesia cuts rate for fourth time to four-year low to bolster growth

Bank Indonesia (BI) has cut its benchmark interest rate for the fourth time this year to bolster the recovery from the coronavirus pandemic, which has dealt a crushing blow to the country’s economy.The central bank slashed its benchmark inter

IMF, World Bank confirm plans for 'primarily virtual' annual meetings

The leaders of the International Monetary Fund and the World Bank on Thursday confirmed that they were preparing to hold their annual meetings in October largely online given the coronavirus pandemic.In a joint statement, IMF Managing Director Kris

Next World Bank, IMF meetings to be virtual: World Bank chief

The World Bank and International Monetary Fund will hold their annual Fall Meetings online in October because of the novel coronavirus pandemic, World Bank President David Malpass said in a letter to the Bank's governors.Malpass also encouraged

World Bank urges govt to spend more on human capital

The World Bank has advised Indonesia to increase its human capital spending and improve the quality of that expenditure as the country pushes for economic recovery.World Bank lead country economist for Indonesia Frederico Gil Sander stated on Wedne

Bank Indonesia expects rupiah to strengthen to 13,700 per dollar in 2021

Bank Indonesia (BI) expects the rupiah to strengthen further next year to around Rp 13,700 to Rp 14,300 per United States dollar on the back of domestic economic recovery starting in the third quarter this year.BI Governor Perry Warjiyo said Monda

Coronavirus: Bank of England rescued government, reveals governor

The government would have struggled to fund itself if the Bank of England had not intervened during the market "meltdown" of COVID-19, the Bank's governor has told Sky News.In an exclusive interview, Andrew Bailey said that in the early stages of the

Coronavirus: Bank of England rescued government, reveals governor

Bank Indonesia trims policy rate to boost growth, signals further cut

Bank Indonesia (BI) has cut its benchmark interest rate – after a two-month pause – to support economic growth, which is likely to fall to its lowest since the 1999 Asian financial crisis.The central bank slashed its benchmark interest