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Govt mulls issuing diaspora bonds in November

first_img“Almost all countries need additional financing but demand from the market is limited. Thus, we need creative financing sources including diaspora bonds,” Deni told a discussion forum on Thursday.The issuance of diaspora bonds was aimed at widening the Indonesian investor base and diversifying existing instruments, Deni said. The target market could include foreign nationals with an Indonesian family background and Indonesians living abroad, among others, he added.The government is planning to issue a fixed rate three-year tranche of bonds with a minimum order of Rp 5 million (US$352.78) and with a maximum order of Rp 5 billion, he went on to say.Indonesia’s 2020 budget deficit is expected to swell to about Rp 1.03 quadrillion, 6.34 percent of gross domestic product (GDP), as the government hikes spending on economic stimulus packages and disease prevention to Rp 677.2 trillion. Read also: Investors turn to government bonds amid market uncertaintyDebt financing is expected to swell to Rp 1.22 quadrillion this year, versus an initially planned Rp 1 quadrillion, to cover the growing budget deficit.The country expects to raise Rp 989 trillion from bonds and loans in the remainder of 2020, according to estimates by Finance Ministry Financing and Risk Management Director-General Luky Alfirman in late May. This figure is likely to surge further to cover the growing deficit.The government also aims to sell samurai bonds, or yen-denominated bonds, in the second half of this year as part of efforts to fund the fiscal gap, Deni said. “We have started to do the preparations for a samurai bond issuance in Japan,” he added.Mandiri Sekuritas fixed-income analyst Handy Yunianto said the diaspora bonds would have a positive effect in widening the investor base, adding that several other countries such as India had set an example in issuing such bonds.“We need to look at the potential investors including who could buy the bonds and how much funds they are willing to invest,” Handy told The Jakarta Post. “Expanding the investor base and adding more investment instruments is a good strategy to finance the growing deficit.”Read also: Retail investors growing as brokerages intensify online accessThe number of retail investors in Indonesia is on the rise as a result of growing awareness about the importance of investing, despite the market consensus that volatility will continue amid the COVID-19 pandemic.Mandiri Sekuritas, the country’s most active brokerage house by transaction value, booked 11,000 new customers in the retail segment during the first four months of this year.Indo Premier Sekuritas, which is also among the most active brokerages on the Indonesia Stock Exchange (IDX), is aiming for a 40 percent increase in customer numbers in the next year after seeing a monthly average of 200 to 300 new customers so far this year. Topics :center_img The government is considering whether to issue Indonesia’s first-ever diaspora bonds in November to raise money from nationals living abroad as it struggles to finance the fight against the COVID-19 pandemic.The Finance Ministry’s director for government debt securities Deni Ridwan said the government pushed back the date of issuing the diaspora bonds from August to November because of the pandemic, adding that it was currently assessing demand for such bonds.Read also: Bond financing to swell further as Finance Ministry plans to issue samurai bondslast_img read more

Fans mourn ex-footballer called best in the world by Maradona

first_img Loading… With the country in lockdown due to the coronavirus pandemic, fans filled out the stands wearing red and blue face masks, the colours of the Central Cordoba club with whom Carlovich made his name, to bid farewell to a player Maradona regarded as his superior. Carlovich died on Friday at the age of 74 after he was struck on the head during a violent robbery. A hearse carried his casket to the centre of the pitch, where it was laid on the grass with a ball placed on top, for his final goodbye. His death shocked the world of Argentine football, particularly in Rosario, the birthplace of Lionel Messi among others. Read Also: Maradona autographs jersey to help Buenos Aires poorCarlovich, a player who shunned fame and preferred to play for smaller clubs, received high praise form Maradona and had spoken of turning down an approach from Pele to join the New York Cosmos in the 1970s.Last February, Carlovich met with the former Argentina captain who was in Rosario for a game in his role as Gimnasia coach. “Trinche, you were better than me,” Maradona wrote as he presented Carlovich with a signed shirt.FacebookTwitterWhatsAppEmail分享 Promoted Content17 Astonishingly Beautiful Cave Churches7 Theories About The Death Of Our UniverseTop 10 Most Romantic Nations In The WorldCouples Who Celebrated Their Union In A Unique, Unforgettable Way8 Things You Didn’t Know About CoffeeWho Is The Most Powerful Woman On Earth?7 Universities In The World With The Highest Market Value10 Hyper-Realistic 3D Street Art By OdeithTime Playing Video Games Can Have A Detrimental Effect On You7 Universities In The World Where Education Costs Too MuchThe Very Last Bitcoin Will Be Mined Around 2140. Read More6 Incredibly Strange Facts About Hurricanes Hundreds of supporters paid their respects on Saturday to former Argentine footballer Tomas ‘Trinche’ Carlovich, a player Diego Maradona called the best in the world, at an open-air wake at a stadium in Rosario. Tomas Carlovich was remembered by hundreds of fansAdvertisementlast_img read more

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KL Rahul, Karn Sharma added to Board President’s XI squad against New Zealand

first_imgBatsman KL Rahul and leg-spinner Karn Sharma have been added to the Board President’s XI squad that will take on New Zealand in the warm-up games at the Cricket Club of India (CCI), Mumbai.Karn has been called as a replacement for injured Rajasthan youngster Rahul Chahar.The Black Caps will play two warm-up games against Board President’s XI on October 17 and October 19, before the three-match ODI series against India beginning October 22.Board President’s XI team: Shreyas Iyer (C), KL Rahul, Rishabh Pant (wk), Karun Nair, Gurkeerat Mann, Prithvi Shaw, Shivam Chaudhary, Milind Kumar, Shahbaz Nadeem, Karn Sharma, Dhawal Kulkarni, Jaydev Unadkat, Avesh Khan.last_img read more

Stakeholder Consensus on Factors for Tourism’s Success in the Caribbean

first_img Caribbean tourism officials, including Jamaica’s Portfolio Minister, Hon. Edmund Bartlett, believe greater air access from source markets and significant hotel investments are recipes for the industry’s success in the region. He says his team has been on the road in Europe where “we had a number of major accomplishments”. Caribbean tourism officials, including Jamaica’s Portfolio Minister, Hon. Edmund Bartlett, believe greater air access from source markets and significant hotel investments are recipes for the industry’s success in the region.They note that it is against this background that countries like Jamaica have been active in the marketplace, securing arrangements for more non-stop flights out of non-traditional destinations to add to airlift already in place directly out of the proverbial ‘bread and butter’ markets of the United States, Canada and Europe.“As a way of enhancing the competitiveness of the region’s tourism sector, we must be prepared to enter into discussions with several airlines and tour companies to discuss the way forward in terms of possibly introducing new locations to our respective destinations. We must also aggressively target promising markets in South America, Europe, Asia and even promote more seriously the idea of intra-regional tourism,” Mr. Bartlett notes.He says his team has been on the road in Europe where “we had a number of major accomplishments”.“We had some breakthrough arrangements where there will be additional non-stop flights between Europe and Jamaica to start this summer as well as the opening up of other markets in Europe.We will also be seeing an increase in European cruise activities and heightened investor interest in the island,” the Minister further informs.Jamaica, which is now ranked as the number-one Caribbean destination for British tourists, also welcomed a record 325,804 European tourists last year, approximately 31,000 more than 2016.“The Caribbean remains the most tourism-dependent region in the world. Tourism is the single largest generator of foreign exchange in 16 of the 28 countries in the Caribbean and also the sector receiving the most foreign direct investment,” Mr. Bartlett points out.Additionally, he says stakeholders already acknowledge that the future of the Caribbean’s tourism industry may rest in the “economic convergence (across) complementary economies”.“Considering this fact, we need to look into the feasibility of multi-destination arrangements that will increase intra-regional tourist flows and promote mutual benefits for more destinations in the region,” the Minister adds.Mr. Bartlett notes that the countries in the north-western and south-eastern Caribbean are well positioned to embrace this new architecture as their geographic alignments are clear and well within 90 minutes of each other by air or sea, thus making it easy for island-hopping and experiential enrichment for visitors.Additionally, he says that in establishing multi-destinations, critical mass will be created for large investments in hotels, infrastructure, agriculture and manufacturing.“For our part, we continue aggressively pursuing a multi-destination marketing arrangement with Cuba, Mexico and the Dominican Republic. As we explore the opportunities, we must also seek regional cooperation in related areas such as aviation and airlift strategies to move seamlessly within the region, visa facilitation and access to each other’s destinations, as well as pre-clearance arrangements,” the Minister adds.For his part, Director of Research at the Caribbean Tourism Organization (CTO) Ryan Skeete, told journalists at a recent press briefing on the Tourism Industry Performance Review at the CTO Headquarters in Warrens, St. Michael, Barbados, that the region’s tourism product attained another milestone in 2017, surpassing 30 million stopover visitors for the first time and generating an estimated US$37 billion in earnings.He attributed this to bullish efforts by a number of Caribbean countries in the international marketplace, which, he noted, was achieved despite the onset of devastating hurricanes in September.“The performance in 2017 was primarily supported by sustained economic growth in all of our major source markets. Our major source market, the US, grew by approximately 0.5 per cent toreach an estimated 14.9 million visits to the region. This performance was attributed to solid economic growth, low unemployment rate and high consumer confidence in the US,” Mr. Skeete informed.He further noted that arrivals from the European market totalled 5.8 million and improved by an estimated 6.2 per cent.This, he pointed out, represented the strongest growth among the main markets, despite terrorist attacks in some countries and the ongoing Brexit negotiations, among other factors.“Visits from the Canadian market rebounded in 2017, growing by 4.3 per cent compared to a decline of 3.1 per cent in 2016. The country’s strong economic performance and increased seat capacity to the region helped support this recovery,” Mr., Skeete added.Meanwhile, CTO Secretary General Hugh Riley, who also spoke at the press briefing, said reinforcing the value and attributes of the Caribbean brand, educating the public and the travel industry on the Caribbean’s geography, and generating demand for the region’s tourism product will take time, careful strategy and money.“In other words, establishing leadership of the Caribbean brand requires more than just sparsely funded, ad-hoc efforts. Tourism is a serious business. It employs, directly and indirectly, 13.7 per cent of the people in the Caribbean, and it contributes, in total, from seven to over 80 per cent to gross domestic product across the region,” he saidMr. Riley further emphasised that tourism “is the business that delivers foreign exchange every time a plane lands and a cruise ship docks”, adding that “it reduces unemployment and delivers massive amounts of tax dollars to our national treasuries”. We will also be seeing an increase in European cruise activities and heightened investor interest in the island,” the Minister further informs. Story Highlightslast_img read more

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