Indonesia Sovereign Wealth Fund

[Indos]

President Joko “Jokowi” Widodo has chosen a seasoned banker, Ridha DM Wirakusumah, to lead the country's sovereign wealth fund, called the Indonesia Investment Authority (INA), which it is hoped will attract global investors to Southeast Asia’s largest economy. The former president director of private lender Bank Permata spent more than 30 years in banking and investment before assuming the role as CEO of the wealth fund.

Indonesia taps seasoned banker to manage multibillion-dollar sovereign wealth fund​

Feb 18, 2021

The Jakarta Post

72.6K subscribers

 

[Indos]

IMF warns Russia sanctions threaten to chip away at dollar dominance - FT​

March 31 (Reuters) - Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the U.S. dollar and could result in a more fragmented international monetary system, Gita Gopinath, IMF's First Deputy Managing Director, told The Financial Times.

Russia has been hit with a plethora of sanctions from the United States and its allies for its late-February invasion of Ukraine. Russia has called the invasion a 'special operation' to disarm its neighbour.

"The dollar would remain the major global currency even in that landscape but fragmentation at a smaller level is certainly quite possible," Gopinath told the newspaper in an interview, adding that some countries are already renegotiating the currency in which they get paid for trade.

She said that the war will also spur the adoption of digital finance, from cryptocurrencies to stablecoins and central bank digital currencies.

The IMF did not immediately respond to a Reuters request for comment.

Gopinath told the FT that the greater use of other currencies in global trade would lead to further diversification of the reserve assets held by national central banks.

She had earlier said the sanctions against Russia do not foreshadow the demise of the dollar as the reserve currency and that the war in Ukraine will slow global economic growth but will not cause a global recession.

 

[Indos]

China agrees to invest US$3 billion in Indonesia sovereign wealth fund​

04 Jul 2022 03:38PM(Updated: 04 Jul 2022 05:48PM)
Bookmark
WhatsAppTelegramFacebookTwitterhttps://www.channelnewsasia.com/#email

JAKARTA: China's Silk Road Fund (SRF) has signed a framework agreement to invest up to 20 billion yuan (US$2.99 billion) in Indonesia's sovereign wealth fund, the funds said on Monday (Jul 4).

The agreement allows for investment in all sectors open to foreigners in Indonesia, in particular those promoting economic connectivity between the countries, the Indonesia Investment Authority (INA) and the SRF said in a joint statement.

"We believe that investment in Indonesia and the region has high potential, especially when conducting it together with INA," said Yanzhi Wang, the president of the SRF.

Unlike many other sovereign wealth funds, which manage excess oil revenues or foreign exchange reserves, the INA's business model seeks to attract foreign co-investors to help fund economic development.

The United Arab Emirates has pledged to invest US$10 billion with the INA, after the sovereign wealth fund's launch in February 2021.

Indonesian authorities have said other global agencies such as the US International Development Finance Corporation and Japan Bank for International Cooperation had also expressed interest in becoming co-investors.

The INA has also formed a US$3.75 billion toll road fund with Canada's Caisse de dépôt et placement du Québec (CDPQ), APG Asset Management (APG) and a unit of the Abu Dhabi Investment Authority (ADIA) last year.

The Silk Road Fund was set up at the end of 2014 and is backed by China's foreign exchange reserves, China Investment Corp, the Export-Import Bank of China and the China Development Bank.

In 2019, Indonesia had asked China to set up a special fund within its Belt and Road Initiative (BRI) for investment in Southeast Asia’s largest economy, after offering projects worth US$91 billion, government officials said at the time.

The latest framework agreement sets out general terms and principles for the SRF and the INA to screen and decide on joint investments, according to the statement.

Source: Reuters/gr

China agrees to invest US$3 billion in Indonesia sovereign wealth fund

JAKARTA: China's Silk Road Fund (SRF) has signed a framework agreement to invest up to 20 billion yuan (US$2.99 billion) in Indonesia's sovereign wealth fund, the funds said on Monday (Jul 4). The agreement allows for investment in all sectors open to foreigners in Indonesia, in particular those...

www.channelnewsasia.com

 

[Indos]

INA, China Exim Bank to joint finance RI strategic projects

Steam rises from a geothermal power plant operated by PT Pertamina Geothermal Energy in this undated handout photo.

Ruth Dea Juwita (The Jakarta Post)
PREMIUM
Jakarta ● Tue, September 12, 2023


Sovereign wealth fund Indonesia Investment Authority (INA) has signed a framework agreement with the Export-Import Bank of China (China Exim Bank) to deepen their economic and investment cooperation in the infrastructure, renewable energy and telecommunications sectors.

“As INA joins forces with [China Exim Bank], we’re not just forging an economic partnership, we are also deepening the bond between the two countries,” INA CEO Ridha Wirakusumah said in a statement on Monday, welcoming the new agreement.In the same statement, China Exim Bank vice president Chen Bin said: “Both parties share compatibility in various fields, such as new infrastructure and green development.”

https://www.thejakartapost.com/business/2023/09/12/ina-china-exim-bank-to-joint-finance-ri-strategic-projects.html