JAKARTA: Indonesia is seeking “lighter” financial terms in a renegotiated project with South Korea to jointly develop a mid-level fighter jet, in a move…
JAKARTA: Indonesia is seeking “lighter” financial terms in a renegotiated project with South Korea to jointly develop a mid-level fighter jet, in a move aimed at supporting the rupiah by reducing use of the country’s foreign exchange reserves, a senior official said.
The Indonesian government has rolled out a number of policies to support the ailing rupiah, which include cutting energy imports and delaying a number of infrastructure projects, as the currency trades near a 20-year low.
“Due to national economic condition, the president has decided to renegotiate to make Indonesia’s position lighter for matters related to funding,” chief security minister Wiranto said in a statement published on the ministry’s official website on Friday.
