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

With fewer people coming to Jakarta to find work sales are nowhere near where they were before the pandemic. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.