Japan to Pledge US$1.5 Billion in Bonds

Senin, 23 Februari 2009 - 12:12 WIB

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VIVAnews - Finance Minister Sri Mulyani Indrawati said the Japanese government will guarantee state bonds amounting to US$1.5 billion. The bonds being issued in Japanese Stock Echange is fully pledged by the Japanese Bank for International Cooperation (JBIC).

The pledge was announced after a meeting between Sri Mulyani Indrawati and Japan's Parliamentary Secretary of Finance Shinsuke Suematsu in Phuket, Thailand on Sunday, Feb. 22.

"Japan is also prepared to take part in a joint contingency loans through JBIC," said Mulyani.

The bonds in Japan's currency yen will be elaborated hand-in-hand by the Indonesian government, the World Bank, the Asian Development Bank and friendly countries.

Sri Mulyani also said that the sums of the bilateral swap arrangement between Indonesia and Japan under the Chiang Mai Initiative will be elevated from US$6 billion to US$12 billion.

"The aid from Japan will improve foreign exchange reserves, which will stabilize the Indonesian economy," she said.