{
  "title": "Indonesia: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Indonesia",
  "publication": "IMF Staff Country Reports, March 2, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/03/01/indonesia-2020-article-iv-consultation-press-release-staff-report-and-statement-by-the-50131",
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  "summary": "Indonesia has responded with a bold and comprehensive policy package to cushion the impact of the COVID-19 pandemic. The economy rebounded in the third quarter of 2020, and the economic recovery is projected to strengthen in 2021 and 2022.",
  "sections": [
    {
      "heading": "Key findings and outlook",
      "content": "- Indonesia implemented a \"bold and comprehensive policy package\" to cushion the impact of the COVID-19 pandemic.\n- The economy rebounded in the third quarter of 2020.\n- The economic recovery is projected to strengthen in 2021 and 2022.\n- Strong policy support and an improving global economy are expected to be the main drivers of the initial recovery.\n- Greater mobility and confidence are expected to follow with the planned vaccination program in 2021."
    },
    {
      "heading": "Risks and uncertainty",
      "content": "- The uncertainty surrounding the growth outlook is larger than usual.\n- Upside risk: early completion of a widespread vaccination program.\n- Downside risk: a protracted pandemic.\n- The macro-financial fallout of the pandemic and economic downturn could be larger than expected, and credit conditions could be slow to improve."
    },
    {
      "heading": "Structural outlook and reforms",
      "content": "- Ongoing reforms aimed at promoting investment are expected to help mitigate the scarring effects from the pandemic.\n- Reforms are expected to put the economy on a sustained growth path that builds on Indonesia’s favorable demographics."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: COVID-19, Credit, Fiscal policy, Health, Money, Public debt, Revenue administration\n- Keywords: accommodative monetary policy stance, capacity building support, COVID-19, CPI representativeness, CR, Credit, credit growth, development spending, GDP estimate, Global, ISCR, liability positions vis-à-vis nonresident, policy support measure, PPI coverage, short-term debt\n\n---\n\n Content in this bundle\n\n- 1idnea2021001\n  - 1idnea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1idnea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 2, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513570853.002",
    "Indonesia implemented a \"bold and comprehensive policy package\" to cushion the impact of the COVID-19 pandemic.",
    "The economy rebounded in the third quarter of 2020.",
    "The economic recovery is projected to strengthen in 2021 and 2022.",
    "Strong policy support and an improving global economy are expected to be the main drivers of the initial recovery.",
    "Greater mobility and confidence are expected to follow with the planned vaccination program in 2021.",
    "The uncertainty surrounding the growth outlook is larger than usual.",
    "Upside risk: early completion of a widespread vaccination program.",
    "Downside risk: a protracted pandemic.",
    "The macro-financial fallout of the pandemic and economic downturn could be larger than expected, and credit conditions could be slow to improve.",
    "Ongoing reforms aimed at promoting investment are expected to help mitigate the scarring effects from the pandemic.",
    "Reforms are expected to put the economy on a sustained growth path that builds on Indonesia’s favorable demographics.",
    "Subject: COVID-19, Credit, Fiscal policy, Health, Money, Public debt, Revenue administration",
    "Keywords: accommodative monetary policy stance, capacity building support, COVID-19, CPI representativeness, CR, Credit, credit growth, development spending, GDP estimate, Global, ISCR, liability positions vis-à-vis nonresident, policy support measure, PPI coverage, short-term debt",
    "**1idnea2021001**"
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