End Times and Current Events

General Category => Asia => Topic started by: Psalm 51:17 on May 16, 2012, 09:20:10 am

Title: World Bank agrees $2b loan for Indonesia
Post by: Psalm 51:17 on May 16, 2012, 09:20:10 am
World Bank agrees $2b loan for Indonesia

THE World Bank has announced it's ready to provide Indonesia with a $2 billion loan, a backstop against a potential debt crisis in one of Asia's fastest growing economies.

The World Bank said the loan, requested by the Indonesian government, would be held as a contingency against "possible future shocks and volatility''.

While Indonesia has long seen growth rates that would be the envy of the United States or European nations, the economy has slowed recently thanks to a drop in export demand.

Jakarta and the World Bank will hope the loan sends a message to markets that Indonesia has the firepower to withstand moderate shocks, as it moves to implement economic reforms.

Though Indonesia currently enjoys better terms of borrowing than some indebted European nations, its budget remains vulnerable to external shocks.

Read more: http://www.news.com.au/business/breaking-news/world-bank-agrees-2b-loan-for-indonesia/story-e6frfkur-1226357556680#ixzz1v2gE2Rbu