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Day: November 19, 2021

Bank Indonesia (BI) recorded a surplus of US$10.7 billion in the balance of payments (BOP) in the third quarter of 2021 after experiencing a deficit of US$0.4 billion in the previous quarter. “Thus, this supports external resilience,” Head of BI’s Communication Department, Erwin Haryono, noted in an official statement received in Jakarta on Friday. Meanwhile, foreign exchange reserves at the end of September 2021 reached US$146.9 billion, higher than US$137.1 billion at the end of June 2021. The foreign exchange reserve position is equivalent to financing 8.6 months of imports and servicing government external debt, as it is above the international adequacy standards. In the third quarter of 2021, the current account recorded a surplus that was mainly supported by a significant increase in the balance of trade (goods) surplus. The current account in the reporting period recorded a surplus of US$4.5 billion (1.5 percent of the GDP) after a deficit of US$2.0 billion (0.7 percent of the GDP) during the previous quarter. A surplus in the goods balance drove this positive performance due to an increase in non-oil and gas exports that aligned with strong demand from trading partner countries and the continued increase in prices of major export commodities in the international market. On the other hand, the services account deficit was lower, partly due to improved performance in transportation services and supported by increased revenue from freight services as export activity improved. The primary income account deficit increased on account of an increase in payments for direct investment returns, influenced by improvements in the performance of natural resource-based corporations. The capital and financial account in the third quarter of 2021 recorded a surplus of US$6.1 billion (two percent of the GDP), higher than the US$1.6 billion (0.6 percent of the GDP) in the previous quarter. “This is increasing, especially from direct investment. Net inflows of direct investment are maintained at US$3.3 billion,” Haryono affirmed. Other investments also recorded a surplus after experiencing a deficit in the previous quarter as influenced by a decrease in net foreign loan payments, an increase in the placement of non-resident deposits in the country, and an additional allocation of special drawing rights (SDR). Portfolio investment during the third quarter of 2021 also recorded net inflows of US$1.1 billion, although it decreased, from US$4.0 billion in the previous quarter in line with the global financial market uncertainty. Haryono ensured that BI will continually monitor the dynamics of the global economy that could affect the outlook for the balance of payments. BI also continued to strengthen the policy mix to maintain economic stability and continued policy coordination with the government and relevant authorities to strengthen external sector resilience, he added. Source: Antara News

November 19, 2021

The Indonesian Government needs to improve the quality of health services in several regions and reduce inequality in access to healthcare, an official from the Coordinating Ministry for Human Development

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