OJK's Advanced Stimulus for MSME Credit

By Editorial Team 16/03/2020
Summary

The Financial Services Authority (OJK) provides further stimulus for the banking sector. OJK loosened up credit collectability for the micro, small, and medium enterprises (MSMEs) by allowing debtors to restructure credit. This step is OJK's response to the Covid-19 outbreak, which has put pressure on the economy and the performance of MSMEs in Indonesia.

OJK Chairman Wimboh Santoso said the restructuring immediately changed the status of credit owned by MSME entrepreneurs into "credit with smooth collectability" so that they could run their businesses well and expand. This further easing applies to credit ceilings above Rp 10 billion after the OJK had only allowed restructuring of credit with a ceiling below Rp 10 billion a week earlier.

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