The government has projected the budget deficit to reach Rp 971.2 trillion, or 5.5 percent of gross domestic product (GDP), in 2021 as the government looks to continue its stimulus spending to support economic recovery. The government plans to issue more sovereign debt papers (SBN), global bonds, retail bonds and sharia-compliant bonds to fund the deficit.Finance Minister Sri Mulyani Indrawati said on Aug. 14 that the government would continue to work with the central bank and allow it to buy government bonds directly at auctions as a standby buyer.Perry assured that the central bank would have the capacity to be the standby buyer next year because it had only bought a total of Rp 42.96 trillion (US$2.91 billion) in government bonds from the market since April.“The figure is only a small fraction of the total amount of government bonds issued to the market,” he said. Bank Indonesia (BI) has expressed its commitment to continue its role as a standby buyer for government bonds until 2021 to help fund the state budget deficit during the pandemic.BI Governor Perry Warjiyo said on Wednesday that the central bank would continue its role as a non-competitive bidder in government bond auctions next year, while assuring that it would have the capacity to do so.“We will only bid when the market is not capable of absorbing [the bonds]. We will have further discussion with the Finance Minister on the market capacity and the government funding strategy,” he said during a livestreamed press briefing. Data from the Finance Ministry’s financing and risk management office show that the government issued a total of Rp 630.5 trillion in government bonds in the first half of this year, or 41.2 percent of the total gross issuance in 2020, Kontan reported.Read also: Government to offer $62.3b in bonds in H2 to finance coronavirus fightPerry also announced that the central bank’s board of governors had decided to maintain its benchmark interest rate — the seven-day reverse repo rate — at 4 percent after lowering it four times this year by a total of 100 basis points (bps). Lending and deposit facility rates were also kept at 3.25 and 4.75 percent, respectively.“The decision is consistent with maintaining external stability amid low inflation that is expected to persist until the end of the year,” he said, adding that BI expected inflation to fall at around 2 percent this year.BI is also committed to continuing its quantitative easing by providing liquidity for banks by lowering the average primary reserve requirement (GWM), and for the government by being a standby buyer and participating in bond private placement.In a burden-sharing scheme agreement with the government, the central bank has purchased the government bonds through a private offering. The one-off policy that was only agreed for this year was aimed to help finance the widening budget deficit that was caused by the government’s COVID-19 response.“So far, we’ve bought Rp 82.1 trillion worth of government bonds through private placement,” he said.Read also: Bank Indonesia buys $5.6b in govt bonds in burden-sharing schemeMirae Asset Sekuritas economist Anthony Kevin lauded the government’s decision to allow BI continue its role as standby buyer as it could help to improve market confidence in government funding next year.He also said BI’s call to maintain the rate at 4 percent was the “correct call” despite wide-open room for another round of policy rate cuts.“I believe BI should refrain from [lowering rates] to maintain the interest rate differential in order to keep the rupiah on the appreciation path against the US dollar,” he said.He also added that the high trade balance surplus, low inflation and narrowing current account deficit could also help strengthen the rupiah against the greenback to Rp 14,400 per US dollar by the end of the year.The rupiah closed at Rp 14,770 per US dollar on Wednesday, 0.4 percent stronger than the day before. However, it has depreciated more than 1 percent over the past month.Trimegah Sekuritas economist Fakhrul Fulvian said the central bank’s decision to maintain rates would help to appreciate the rupiah since fears over huge monetary expansion could hamper recovery of the currency.Although he agreed that BI would receive a positive response from the market for its plan to continue as a standby buyer, he said it would ultimately depend on the central bank’s exit strategy from the burden to support the government.“It’s very important for BI to communicate to the market on its exit strategy once the economy recovers from the crisis,” he said.Topics :
The home at 177 Oxley Ave, Woody Point is for sale.THIS Oxley Ave home in Woody Point has plenty of character and is just a stroll to Scotts Point Beach. Andrea Rooney bought the three-bedroom property at 177 Oxley Ave in 2010.“I liked the area of Woody Point and the character feel of the home,” she said. The house sits on a 607sq m corner block with established gardens.Inside, the large living area has a high ceiling and timber floors while the kitchen has modern appliances, an antique wood stove and plenty of bench space. The living area has polished timber floorboards.A dining area separates the kitchen and living space.The three bedrooms are a decent size and there are timber floorboards to two of the bedrooms. The bathroom has a double-length shower and there is a separate laundry room. Outside, there is a single lockup garage with storage and a carport.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019There is also a cubby house for the kids. There is an antique wood stove in the kitchen.“I did a lot to the property (after buying it),” Ms Rooney said. “I converted an area into a study, put in airconditioning, added new appliances in the kitchen and painted.”Ms Rooney said the living room was her favourite space in the home. “It’s a lovely area and at night, if it’s quiet, you can hear the ocean,” she said. The property also has a rainwater tank, ceiling fans and security screens. The bedrooms are generous in size.Ms Rooney said the home had a private garden and was close to much of what was on offer in Woody Point. “It’s really quiet here,” she said. “And you can walk to the milk bar just down the road, the fish and chip shop, the water and the markets on Sunday.“I’ll miss living here.” The home is being marketed by Andrew Reibelt from RealWay Property Consultants Redcliffe for offers over $449,000.
The tale of Yasiel Puig’s journey from Cuba to Los Angeles via drug smugglers in Mexico that was told in Los Angeles Magazine earlier this month has already been bought up by movie maker Brett Ratner, according to the Hollywood Reporter.Wouldn’t Dodgers co-owner and rival filmmaker Peter Guber have the right of first refusal in something like this?Or was he not willing to give 20 percent of the films’ potential earnings to the bad guys?• Could Puig play himself in the movie, or would he only be able to read statements released by his agent? • Does the brashness of Nick Young, aka Swaggy P, aka Swag the Dog, aka Kobe Lite, actually make him think it all translates to a heightened brand-ness?“I’m killin’ it right now,” the future ex-Laker out of Reseda’s Cleveland High and USC boasted to TMZ recently.Overthrowing the opening pitch at a Dodgers game? Looks great on all the “SportsCenter” low-light reels. Killer stuff.Drag racing a Zamboni during a Kings’ playoff game while wearing a custom “0” jersey? It all adds up.It can’t be over yet. Please, L.A. Kiss, invite him to get down on one knee and hold the ball for the opening kickoff at a future arena football game. Will that be when the Swag finally loses all said swagger? • Unless something goofy happens with the ping pong balls, more and more of the expertly mock drafters are coming to the conclusion that the Lakers will use whatever spot they kangaroo up with in the first round’s upper-six region and try to nab 18-year-old Australian whippet Dante Exum.Um, is that another “Ex” factor that keeps Mike D’Antoni dangling around at least for the start of the year, to see how the kid fits into this gun-n-gun, D-optional system?• Since the Lakers have no second-round pick, why not adopt this strategy: After the rest of the league dimwits pass on newly declared early entrant Spencer Dinwiddie, who’s coming off a major knee injury, sneak him into camp as a free agent? If only to pair him up with Jordan Farmar to form a backcourt off the bench of two former Woodland Hills Taft High stars who led their teams to an L.A. City title seven years apart?• What would it take for Albert Pujols to finish out as the Angels’ all-time home-run leader?Fifty-five of his 500 career homers have come as an Anaheimer. The 34-year-old would need 245 more — or an average 35 a season for the next seven seasons, until he’s 41 — to pass Tim Salmon as the king fish. At which point, Pujols would have 745 and be still just third all time.Doable?But then again, Mike Trout is already 17 homers ahead of Pujols already on the franchise all-time list, about to leave Mo Vaughn behind.• Notice that Bryce Harper doesn’t even hustle in his new Gatorade commercial?• When does ESPN realize that the frequently manipulated ratings numbers actually aren’t lying and that absolutely no one is watching “Numbers Never Lie”?• Get a grip: If the lack of cover up apparently is worse than the crime, why hasn’t Major League Baseball ordered Yankees pitcher Michael Pineda to attend beautician classes while he is serving his 10-game suspension for blatant pine tar use?He’s eligible to play again in the series against the Angels coming up in Anaheim, but would the embarrassed Yankees continue to punish him by making him ride the pine even longer?• The Milwaukee Brewers are putting in a second Bob Uecker at Miller Park — this time, situating it in the very last row of seats in the upper deck. It’s an homage to his former beer commercial in which he thought they were moving him to the front row.Go back and watch that old TV spot on YouTube. Recognize the stadium that provided that upper-deck seat way back when for Uecfirstname.lastname@example.org @tomhoffarth on Twitter Newsroom GuidelinesNews TipsContact UsReport an Error
The Panthers made a big splash on the opening day of free agency, signing goaltender Sergei Bobrovsky to a seven-year deal. According to multiple reports, Bobrovsky will make an average of $10 million annually over the course of the contract. “Sergei is an elite starting goaltender who has consistently proven to be one of the best in the NHL,” general manager Dale Tallon said in a release. “Adding a world class goalie with Sergei’s abilities and experience will give us a solid foundation in net and the confidence to win every night as we look towards this next era of Panthers hockey in South Florida.”Bobrovsky, 30, is coming off a season in which he posted a 37-24-1 record, .913 save percentage, 2.58 goals against average and league-leading nine shutouts for the Blue Jackets. He spent the last seven seasons in Columbus after breaking into the NHL with the Flyers. He won the Vezina Trophy in 2013 and 2017. Bobrovsky replaces the retiring Roberto Luongo as Florida’s primary goaltender, and should provide a significant upgrade at the position. Florida traded backup James Reimer to the Hurricanes on Sunday. Artemi Panarin free agency news: Rangers land star winger Related News NHL trade rumors: Panthers deal goaltender James Reimer to Hurricanes