Indonesia: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Indonesia

March 2, 2021

Preview Citation

Format: Chicago

Indonesia: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Indonesia, (USA: International Monetary Fund, 2021) accessed November 23, 2024

Summary

Indonesia has responded with a bold and comprehensive policy package to cushion the impact of the COVID-19 pandemic. The economy rebounded in the third quarter of 2020, and the economic recovery is projected to strengthen in 2021 and 2022. Strong policy support and an improving global economy will be the main drivers initially, and greater mobility and confidence will follow with the planned vaccination program in 2021. The uncertainty surrounding the growth outlook is larger than usual. Early completion of a widespread vaccination program is an upside risk, while a protracted pandemic remains a downside risk. The macro-financial fallout of the pandemic and economic downturn could be larger than expected, and credit conditions could be slow to improve. Ongoing reforms aimed at promoting investment are expected to help mitigate the scarring effects from the pandemic and put the economy on a sustained growth path that builds on Indonesia’s favorable demographics.

Subject: COVID-19, Credit, Fiscal policy, Health, Money, Public debt, Revenue administration

Keywords: Accommodative monetary policy stance, Capacity building support, COVID-19, CPI representativeness, CR, Credit, Credit growth, Development spending, GDP estimate, Global, ISCR, Liability positions vis-à-vis nonresident, Policy support measure, PPI coverage, Short-term debt

Publication Details

Pages:

86
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/046
Stock No:

1IDNEA2021001
ISBN:

9781513570853
ISSN:

1934-7685

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