Government considers special interest rate for firms’ forex earnings as an incentive
JAKARTA: Indonesia is formulating incentives for exporters to keep their foreign-exchange earnings onshore for at least three months, its chief economics minister said on Thursday.
Minister Airlangga Hartarto said the government would offer “competitive” interest rates for exporters that deposit their forex earnings in local banks.
“We have to make [interest rates] competitive compared to Singapore, so that [FX earnings] won’t flow to Singapore,” he said, referring to the city-state’s appeal as a regional…
