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Indonesia discusses new swap agreement with three countries
Finance Minister Chatib Basri said that Indonesia was in negotiations with three countries regarding Bilateral Swap Agreement (BSA) as a precautionary measure the government may take if it needs unexpected liquidity assistance
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inance Minister Chatib Basri said that Indonesia was in negotiations with three countries regarding Bilateral Swap Agreement (BSA) as a precautionary measure the government may take if it needs unexpected liquidity assistance.
'The countries include Japan but I cannot reveal the others,' Chatib said as quoted by Antara on Monday.
Chatib added that the BSA was crucial in the face of a potential crisis as it would assist the government if it faced financial difficulties and would guarantee a fiscal anticipation measure.
'So, if there is a surprise quantitative easing measure in the future, we will be prepared with a solid request package,' Chatib said.
The government now has US$5.5 billion of contingency loans provided by the World Bank, the Asian Development Bank, the Japan Bank for International Cooperation and the Australian government.
