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Jakarta Post

Probing government loan-restructuring and liquidity assistance programs

  • Arwin Rasyid

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PREMIUM
Jakarta   /   Mon, June 15, 2020   /  09:29 am
Probing government loan-restructuring and liquidity assistance programs Security personnel stand by at Central Park Mall, Jakarta, on Wednesday. Malls across Jakarta prepare themselves for the reopening as Jakarta will enter a transition period. (JP/Seto Wardhana)

The impact of the COVID-19 pandemic on business has been massive, simultaneous and indiscriminate, affecting not only micro, small and medium enterprises (MSMEs) but also large corporations and even state enterprises. A wave of layoffs has occurred, and almost all sectors have experienced a decline in turnover, with many businesses facing temporary or permanent closure. Objectively, the economic crisis caused by the pandemic has had an impact on all economic actors, whether individuals or businesses. Individuals who have been particularly badly affected include informal day laborers, online transportation drivers, street vendors and outsourced workers. Businesses that have been affected include ultra-micro businesses; micro, small and medium enterprises (MSMEs) and large corporations and financial institutions (bank and non-bank). Millions of MSMEs have been affected. Likewise, hun...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.