JAKARTA - Indonesian central bank governor Perry Warjiyo on Thursday said the country has no plan to implement capital control measures to stop outflows due to coronavirus fears, saying that its foreign exchange reserve is more than enough to prop up the currency.
Mr Warjiyo told reporters earlier on Thursday that the central bank is seeing signs of easing capital outflows as US and European authorities launched fiscal stimuli. Finance Ministry data showed that foreigners have sold around 85 trillion rupiah worth of government bonds this year as of March 23, while in shares foreigners have sold a net 10 trillion rupiah as of Thursday.
"Given our reading that the economic impact of Covid-19 will be significant to Indonesia, we think that those fiscal packages will need to be upgraded," Mr Nazara said.
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