11.09.202508:41:20UTC+00Indonesia to Give USD 12.15 Billion Into Six Banks to Boost Liquidity

Indonesia's newly appointed Finance Minister, Purbaya Yudhi Sadewa, announced on Thursday the government's plan to transfer IDR 200 trillion, equivalent to approximately USD 12.15 billion, into six banks to bolster liquidity within the banking sector. This move is slated to occur on Friday, as disclosed by Purbaya in a Reuters report. Although the specific banks were not identified, Purbaya highlighted that state-owned banks would be included in this liquidity boost. This announcement comes on the heels of Purbaya's appointment as Finance Minister earlier in the week, during which he informed a parliamentary session that sluggish government expenditures had propelled the state's cash reserves at Bank Indonesia (BI) to IDR 430 trillion. Purbaya emphasized that IDR 200 trillion of this reserve would be redirected to the banking system to stimulate lending, pointing out that the central bank had maintained excessively stringent liquidity conditions.