JAKARTA (Yosefardi) – Indonesia and South Korea governments have signed a bilateral swap arrangement (BCSA) worth US$10 billion, equivalent Rp115 trillion.
Difi Ahmad Johansyah, Bank Indonesia’s spokesperson, said in press statement that both countries have agreed to swap currencies (won/rupiah) for supporting trade relation and financial cooperation of both countries.
This facility will be effective for 3 years and could be extended. Indonesia had previously signed BCSA with Bank of Japan (US$12 billion) and People’s Bank of China Zhou Xiaochuan (US$16 billion).
Indonesia has also signed a loan facility of US$5.5 billion with a multilateral institution, to help cover the state budget deficit.