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View all search resultsImmigration authorities in Bali plan to conduct an in-depth evaluation of local business operations after receiving complaints about a growing number of micro, small and medium enterprises (MSMEs) on the island being controlled by foreign nationals.
The strengthening rupiah in November led to an increase in Indonesia’s external debt, Bank Indonesia data has revealed. Meanwhile, the private sector also banked on the favorable borrowing conditions to seek funding from overseas, analysts have said.
The Finance Ministry recorded that the foreign capital invested in the government’s debt papers (SBN) broke this year’s record on Nov. 28, hitting Rp 899.19 trillion (US$62.95 billion), surpassing the previous record of Rp 880.2 trillion in Jan. 23.
Coordinating Economic Minister Darmin Nasution has warned that Indonesia relied very much on foreign capital because of the low savings rate among Indonesians. He considered it to be a factor of a weak fundamental economy.
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