Indonesia, with record-low key rate, in a bind as US borrowing pushes up interest rates

JAKARTA – Six months ago, as Indonesia’s economy cratered amid spiralling Covid 19 infections, Mr Hendy Salim, branch manager at the PT. Uniparamandala Pathya Honda motorcycle dealership in South Jakarta struggled to make a sale.

Customers couldn’t get financing or went into arrears on payments because they lost their jobs.

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