Indonesia’s economic growth was recorded at 2.97% (Q1 2020)

The COVID-19 pandemic, which began in early 2020 in China and spread to various countries, affected Indonesia’s economic growth in the first quarter of 2020. Indonesia’s economic growth was recorded at 2.97% (YoY) in the first quarter of 2020, slowing compared to the level in the previous quarter of 4.97% (YoY). (BI)

Banks reported tightening standards on loans to companies and households in the first quarter amid mounting concerns over the impact of the coronavirus on the U.S. economy, a Federal Reserve survey showed. Lenders tightened standards and terms on commercial and industrial loans to firms of all sizes, according to the April Senior Loan Officer Opinion Survey on Bank Lending Practices, released Monday. (Bloomberg)

The Government of Indonesia held SBSN auction on 5 May 2020, for series SPNS06112020 (new issuance), PBS002 (reopening), PBS026 (reopening), PBS007 (reopening), and PBS005 (reopening). The total incoming bid was IDR 18.1 trillion, slightly less than the previous SBSN auction of 18.8 trillion. The Government also plans to hold an additional SBSN auction (Green Shoe Option) for series PBS002 and PBS026 on 6 May 2020. (Ministry of Finance/ MOF)

Source: Danareksa Sekuritas Debt Research