Jakarta (ANTARA News) - Bank Indonesia predicts the foreign exchange reserves would reach US$81 billion by the end of this year following continued improvement in the country`s economic growth.
"We are predicting the foreign exchange reserves will reach above US$80 billion by the end of this year or at least US$81 billion depending on the global economic situation," the central bank`s governor Darmin Nasution said here on Wednesday.
BI deputy governor Budi Mulya meanwhile said based upon BI`s exercise last month the foreign exchange reserves could reach more than US$81.3 billion or more than 6.4 months of imports and payments for the government`s short-term debts.
Darmin said until May Indonesia`s foreign exchange reserves reached US$74 billion and is predicted to continue to rise following the country`s good economic fundamentals compared to those of other countries.
"With the higher economic growth and better interest rates compared to those in developed countries capital inflows would continue," he said.
He said however that it was not impossible for the positive sentiment to be hampered by events that could create negative sentiment in the market such as the recession event in Dubai which was continued in Greece.(*)
source:
http://gresnews.com/ch/News-En/cl/Indonesias/id/104362/BI+predicts+forex+reserves+to+reach+US81+billion
Rabu, 16 Juni 2010
Pertamina asked to build fertilizer factory in Iran
Jakarta (ANTARA News) - State-owned oil and gas firm Pertamina has been asked to build a fertilizer plant in Iran to replace fertilizer firm PT Pusri, a cabinet minister said.
"We are trying to invite Pertamina to enter that country," State Enterprise Minister (BUMN) Minister Mustafa Abubakar said on the sidelines of a joint meeting with the chief economic minister, the trade minister, the industry minister and a number of House commissions here on Wednesday.
Abubakar said that Pertamina was invited to build a fertilizer plant in Iran because the oil and gas company also had cooperated with that country in the development of an oil refinery plant.
At present, the BUMN ministry is considering to withdraw PT Pusri from Iran because the company is focusing its attention on the development of fertilizer plants at home.
PT Pusri and IPCI, an Iranian firm, have signed an agreement to build a fertilizer plant since 2007. The reason to choose Iran was that Iran has enough gas sources with a relatively cheap price.
Investment reached US$700 million, of which US$100 million came from the Islamic Development Bank and US$150 million came from the Iran Bank.(*)
COPYRIGHT © 2010
source:
http://gresnews.com/ch/News-En/cl/House/id/104342/Pertamina+asked+to+build+fertilizer+factory+in+Iran
"We are trying to invite Pertamina to enter that country," State Enterprise Minister (BUMN) Minister Mustafa Abubakar said on the sidelines of a joint meeting with the chief economic minister, the trade minister, the industry minister and a number of House commissions here on Wednesday.
Abubakar said that Pertamina was invited to build a fertilizer plant in Iran because the oil and gas company also had cooperated with that country in the development of an oil refinery plant.
At present, the BUMN ministry is considering to withdraw PT Pusri from Iran because the company is focusing its attention on the development of fertilizer plants at home.
PT Pusri and IPCI, an Iranian firm, have signed an agreement to build a fertilizer plant since 2007. The reason to choose Iran was that Iran has enough gas sources with a relatively cheap price.
Investment reached US$700 million, of which US$100 million came from the Islamic Development Bank and US$150 million came from the Iran Bank.(*)
COPYRIGHT © 2010
source:
http://gresnews.com/ch/News-En/cl/House/id/104342/Pertamina+asked+to+build+fertilizer+factory+in+Iran
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