No More COVID-19 Loan Restructuring

Banks have prepared ahead of the end of the COVID-19 loan restructuring policy.

Arlina Satiti Mugi Laras

1 Apr 2024 - 20.45
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No More COVID-19 Loan Restructuring

Illustration - When the Covid-19 outbreak struck, several residents were snapped wearing masks in Jakarta's sunset atmosphere./Bisnis

Bisnis, JAKARTA — Indonesia is nearing an end to its loan restructuring policy for the banking sector following the government’s revocation of pandemic status in June last year and the gradual economic recovery.

The Financial Services Authority (OJK) noted that borrowers, especially SMEs, have widely utilized loan restructuring issued since early 2020. The loan restructuring stimulus is part of countercyclical policy. It is a landmark policy that supports the performance of borrowers, banking, and the economy in general to pass through the pandemic period.

OJK also assessed that Indonesia's banking condition is resilient in economic dynamics, supported by strong capital levels, adequate liquidity, and good risk management.

OJK’s Board of Commissioners Chair, Mahendra Siregar, added that ongoing economic recovery, controlled inflation rates, and growing investments reflect this resilience. Additionally, since the issuance of Presidential Decree No. 17 of 2023 declaring the end of the COVID-19 pandemic status in Indonesia, community economic activities have continued to increase.

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No More COVID-19 Loan Restructuring

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