Indonesian President Prabowo Subianto on Monday, February 17, 2025, signed a regulation requiring exporters of resources other than oil and gas to hold all proceeds locally for at least a year, which he said would add $80 billion to the country's forex reserves. "Indonesia's natural resources must benefit the welfare of the nation and the people, through development funding, the circular flow of money domestically, increase in foreign exchange reserves and stability of the exchange rate," Prabowo told a televised press conference. The new measure will be effective March 1, the president said. Since 2023, Indonesia has required all resource exporters to keep 30% of the proceeds from every export with a shipping document worth at least $250,000 in the local financial system, but Prabowo said exporters still preferred to keep their earnings in banks outside of Indonesia. Under the new regulation, exporters will be allowed to use the proceeds if they are converted into rupiah, or for business operations such as dividend payments, procurement of raw materials or repayment of loans, Prabowo said.Source : https://en.tempo.co/read/1976468/prabowo-says-new-export-measure-to-add-us80bn-to-forex-reserves (ICE GIACARTA)

Fonte notizia: Tempo, 17/02/2025