Indonesia pressures commodity firms with earnings rule

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The story "Indonesia pressures commodity firms with earnings rule" was covered 11 hours ago by Business Mirror, a news publisher based in Philippines.

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Indonesia pressures commodity firms with earnings rule - Business Mirror

Quick Summary:

Indonesia plans to force commodity firms to keep their export earnings onshore for at least a year, tightening an existing requirement for a sector already facing mounting regulatory uncertainty.

Exporters, however, have complained it will impact their ability to manage cash flow and force them to take out larger loans to finance everyday expenses.

The policy, due to take effect on March 1, is aimed at bolstering Indonesia’s foreign-exchange reserves and supporting the rupiah.