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Indonesia gets $1b Aussie loan to offset virus impact

Christian Fernsby |
Indonesia has received a loan of AUD1.5 billion (USD1.07 billion) from Australia to deal with the economic fallout of the coronavirus pandemic, the country's finance minister said on Thursday.

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Topics: INDONESIA   

"We really appreciate the support from various sources, including loan support from Australia,” Sri Mulyani Indrawati told a virtual conference.

She said the loan will be allocated for the fiscal sector to help businesses and micro, small and medium enterprises, as well as manage fiscal sustainability.

Sri Mulyani explained that the support would be helpful for a fast and strong economic recovery.

"We all know and understand that COVID-19 brings challenges for all of us, especially for both of us as finance ministers," the minister, who was joined by her Australian counterpart Josh Frydenberg via video link.

Indonesia will continue to formulate fiscal policies to support the health sector and social safety nets, she said.

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