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Indonesia president signs regulation on keeping export proceeds onshore

Summary by Channel News Asia

JAKARTA : Indonesian President Prabowo Subianto on Monday said he has signed a regulation that will require exporters of resources other than oil and gas to keep all proceeds onshore for at least a year, effective from March 1. Oil and gas exporters will be required to comply with existing rules on export

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Nikkei

Indonesia seeks $100bn by extending export earnings lock-up

JAKARTA -- Indonesia has announced an extension of the lock-up period for export earnings from resource sectors, increasing it from a minimum of three

5 days ago·Japan

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Bloomberg

Indonesia Forces Exporters to Keep More Earnings Onshore

Indonesia is pushing ahead with a plan to force natural resource exporters to keep more foreign exchange earnings onshore in Southeast Asia’s largest economy, an effort aimed at bolstering central bank reserves by $80 billion and reversing a slide in the country’s beleaguered currency.

5 days ago·United States

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Channel News Asia

Indonesia president signs regulation on keeping export proceeds onshore

5 days ago·Singapore

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Political Uprise

Indonesia Mandates Exporters to Keep Proceeds Onshore for atleast a Year

Indonesian President Prabowo Subianto has signed a regulation requiring all non-oil and gas exporters to retain their earnings within the country for at least one year, a move aimed at boosting foreign exchange reserves by $80 billion. Speaking at a televised press conference, Prabowo emphasized that Indonesia’s natural resources must benefit the people by supporting domestic development, increasing forex reserves, and ensuring exchange rate sta…

5 days ago

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