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Indonesia relaxes debt payment for SMEs

Indonesian President Joko Widodo said on March 24 that his government has agreed to extend debt payment deadlines for small- and medium-sized enterprises (SMEs) for one year.
Indonesia relaxes debt payment for SMEs ảnh 1Illustrative image (Photo: Xinhua)
Jakarta (VNA) – Indonesian President Joko Widodosaid on March 24 that his government has agreed to extend debt paymentdeadlines for small- and medium-sized enterprises (SMEs) for one year.

Accordingly, the scheme will be applied for loans worth 10billion rupiah (619.1 trillion USD) from banks and non-financial organisationsto help SMEs cope with COVID-19 epidemic.

He added thatcreditors are prohibited from demanding loan installments, especially throughdebt collection services.

Chairman of the Micro, Small and MediumEnterprises (MSMEs) Association Ikhsan Ingratubun said SMEs sales have droppedby 30 – 35 percent nationwide since the beginning of this March.

Earlier, theIndonesian government launched two stimulus packages worth 22.9 trillion rupiahand 10.3 trillion rupiah, including individual and corporate income tax breaksand the relaxation of loan disbursements and restructuring requirements./.
VNA
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