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.
With fewer people coming to Jakarta to find work sales are nowhere near where they were before the pandemic.PHOTO: AFP

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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