Indonesia to require resource exporters to retain all proceeds onshore for a year

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JAKARTA : Indonesia will require natural resource exporters to keep all proceeds onshore for at least one year under a new regulation the government will soon issue, its chief economic minister said on Tuesday.

The rupiah this month hit its weakest since July against the U.S.dollar.

The funds they put in local banks could be used as collateral for a loan if exporters' need it, he said.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIndonesia

Topics: Summit Economic Airlangga Proceeds Indonesia Exporters Export Hartarto Rupiah Minister Indonesian

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-21 @ 17:25:51 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 275 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 25314786

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 48 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 28 minutes ago

Coverage Areas: Singapore

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Publisher ID: #27

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