Indonesia’s foreign debt rises in May as foreign investors make comeback

first_imgThe central bank said that the higher debt position was due to higher capital inflow to the debt market amid lowering uncertainty in the global financial market and highly attractive domestic financial assets, adding that investors’ positive sentiment helped bring down the borrowing cost.“The management of the government’s external debt is conducted in a prudent and accountable manner to support government spending toward priority sectors, particularly on COVID-19 handling and boosting national economic recovery,” BI said in a statement.Indonesia’s budget deficit is expected to widen to 6.34 percent of GDP to cover the Rp 695.2 trillion ($47.5 billion) earmarked to strengthen the healthcare system and bolster economic growth. The government faces the daunting task of raising Rp 900.4 trillion worth of sovereign debt papers (SBN) in the second half of the year as debt financing swells significantly to fund the country’s coronavirus response. It raised Rp 630.5 trillion worth of SBN as of June this year.The government’s foreign debt rose 3.1 percent yoy in May to $192.1 billion, driven by the weekly issuance of SBN to fund the budget deficit in 2020. Public sector debt, raised by the government and the central bank, amounted to $194.9 billion.The private sector’s external debt grew 6.6 percent to $209.9 billion in May, compared to 4.4 percent in April, driven by higher debt from nonfinancial sectors.The external debt is largely disbursed across four sectors accounting for 77.3 percent of overall private borrowing, namely mining, manufacturing, financial services and insurance, and electricity, gas and steam procurement.The central bank deemed the overall external debt level to be healthy as the foreign-debt-to-GDP ratio was recorded at 36.6 percent by the end of May, up from 36.2 percent the previous month. Long-term loans account for 89 percent of the current outstanding debt.Topics : Indonesia’s foreign debt rose in May, driven mainly by foreign inflows to the country’s debt market as the government issues more debt papers to fund the coronavirus response and boost economic recovery, the latest data has shown.External debt, which includes government and private sector borrowings, was recorded at US$404.7 billion in May, a growth of 4.8 percent year-on-year (yoy), Bank Indonesia (BI) data showed Friday. The growth rate of Indonesia’s external debt increased from an annualized rate of 2.9 percent in April.Private sector foreign debt, which includes borrowings of state-owned enterprises, grew at a faster rate than government debt, supported by the mining, manufacturing, financial services and insurance sectors, as well as electricity, gas and steam procurement.last_img read more

BLOG: Highlights from the 100th Pennsylvania Farm Show

first_imgBLOG: Highlights from the 100th Pennsylvania Farm Show 100th Farm Show,  The Blog,  Videos Exhibitors and visitors from all corners of the Mid-Atlantic arrived to Pennsylvania’s capital city in early January to experience the largest indoor agricultural event in the United States, the Pennsylvania Farm Show, for its centennial celebration. And what a celebration it was!More than 10,000 competitive exhibits and nearly 300 commercial exhibitors were on display within the 24 acres spread throughout the complex’s 11 halls and three arenas.With the unusual warm January weather, the family-oriented atmosphere and low prices continued to bring in spectators all week, with more than 62,197 vehicles parked from Saturday through Friday.The Butter SculptureThe show kicked off with the traditional unveiling of the more than 1,000-pound butter sculpture crafted by Jim Victor of Conshohocken, Montgomery County. To honor the 100th show, the sculpture was based on the show’s theme of “Our Commonwealth’s Blue Ribbon Experience,” portraying everything from an FFA member showing her cow to a quilt and spinning wheel.Centennial MilkshakeBesides the normal vanilla and chocolate flavors, the 2016 event marked the debut of a new flavor of Farm Show milkshake – strawberries and cream. It was revealed at the opening of the Food Court on January 8, kicking off the start of the 2016 show.Celebrating The Farm Show LegacyFor the celebration of the 100th Pennsylvania Farm Show, exhibitors and visitors had the chance to buy the book “Hold Your Horses! The Pennsylvania Farm Show at 100,” which commemorates the history of the show throughout the past century.Written by long-time Farm Show reporter Mary Klaus, the book contains hundreds of stories from participants throughout the years, a background of the nation’s largest indoor agricultural exposition, and a profile of Pennsylvania’s 67 counties and their county fairs.Food Fun FactsVendors at the Food Court kept busy providing visitors with Farm Show favorites.The following products were sold or consumed:The Pennsylvania’s Cattlemen’s Association Booth whipped up more than 2,250 burgers and used more than 3,220 pounds of prime rib and more than 4,640 pounds of beef for cheesesteaks.The Pennsylvania Livestock Association sold more than 10,000 roast beef sandwiches, 3,000 meatball subs, 10,000 barbeque pork sandwiches, 4,000 hot sausages, 5,000 Italian sausages, 4,200 goat tacos, 2,000 servings of lamb stew and 850 servings of steak salad.PennAg Industries Association sold more than 12,600 pounds of pulled pork, 14,000 hot dogs, 7,000 pieces of chocolate covered bacon, 5,000 fish nachos, and 105 gallons PennAg Farm Show BBQ Sauce.Pennsylvania Maple Syrup Producers sold more than 6,500 bags of maple cotton candy, 500 gallons of maple syrup and 250 gallons of Mapleade.The Pennsylvania State Horticulture Association sold more than 6,000 apple dumplings, 7,500 quarts of apple cider, and 25 bushels of apples.The Pennsylvania Mushroom Grower’s Cooperative sold more than 12,400 pounds of mushrooms.Pennsylvania Vegetable Growers sold 7,000 servings of batter-dipped vegetables, 6,000 blooming onions, 3,000 funnel cakes, 5,255 bowls of soup, 1,600 bowls of salad, 1,500 pickles, 850 pieces of pie, 700 vegetable wraps, 7,300 strawberry surprises and 2,475 raspberry lemonades.The Pennsylvania Dairymen’s Association used more than 19,000 gallons of milkshake mix, 75 pounds of American cheese and 260 loaves of bread for grilled cheese sandwiches, 450 gallons of ice cream and 4.1 tons of mozzarella cheese.The Pennsylvania Beekeepers Association sold more than 1,400 gallons of honey ice cream and used more than 700 pounds of waffle mix.The Pennsylvania Farm Show is the nation’s largest indoor agricultural event, featuring 6,000 animals, 10,000 competitive exhibits, and 300 commercial exhibitors.According to a report issued by the Hershey Harrisburg Regional Visitors Bureau, the 2015 show had an estimated economic impact of $95 million to the south-central Pennsylvania region, supporting more than 18,000 jobs over the course of the week-long event.I thank everyone who visited, as well as those everyone who helped with planning and execution of the 2016 show. Your time, efforts and dedication were truly appreciated. Please accept my sincerest gratitude for all you did to help us execute a successful 100th Pennsylvania Farm Show!Discussions have already begun for the 2017 show — and we hope to see you then! Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf SHARE Email Facebook Twittercenter_img By: Russell C. Redding, Secretary of Agriculture January 29, 2016last_img read more

Wins for National teams as GTT Indoor Hockey continues

first_imgTHERE were wins for the National men’s and women’s teams, as the 2017 GTT Indoor championship continued at the Cliff Anderson Sports Hall on Tuesday evening.In the first of the matches, the Ladies unit were up against the more physical Antonio’s Grill Hikers.However, the Ladies proved that girl power is nothing to mess around as they trampled their opponents 8-2.Their victory was led by a pair of field goals each from Aliyah Gordon and Tricia Woodroffe as the side showed their full grace and splendour.It was Gordon who opened the scoring after a clean interception on a Hikers Long pass. She returned to complete the double in the 8th minute.Also finding the nets on the night were Marzana Fiedtkou (5th minute), Latacia Chung (27th minute), Maria Munroe (29th minute) and Nicole Eastman (30th minute).Meanwhile, the National Men’s side were in no playful mood as they thrashed Saints Hockey Club 11-0Robert France and Jamarj Assanah both slammed 4 goals each while Andrew Stuart scored a double and Ryan Branford notched up one goal to complete the rout.The Greens, on the other hand, were made to work a little more as they finally overcame the old Fort Titans.Arody Bradford scored twice in the win 5:3 with a strike each from Aderemi Simon, Jason Dos Santos and Kevin Spencer.For the losing side, it was John Abrahams double and Ascofu Simon’s lone strike that accounted for the goals.The other results of the night saw GCC Pitbulls defeat Hikers 5-1, GCC Spartans draw 1-1 with the ever-improving Old Fort Shooting Stars in the women’s division, while Saints Hockey Club lost to Saint Stanislaus Hockey Club 5-3 and Pepsi Hikers suffered a demoralising 8-1 defeat at the hands of Bounty GCC.last_img read more