OJK to ease credit collectability amid COVID-19 outbreak

OJK to ease credit collectability amid COVID-19 outbreak

Head of the Financial Services Authority (OJK), Wimboh Santoso, delivered statements to the press after attending the CNBC Economic Outlook 2020 in Jakarta, Wednesday (February 26, 2020). ANTARA/Dewa Wiguna/gtm

Jakarta (ANTARA) - Indonesia's Financial Services Authority (OJK) plans to ease credit collectability among debtors whose businesses have been disrupted by the novel coronavirus (COVID-19) outbreak, the chairman, Wimboh Santoso, said here on Wednesday.

"We can provide support to the affected businesses by giving them credit relaxation, mainly in terms of calculating the collectability," Santoso reaffirmed, while explaining that the authority will only consider the diligence of the debtor's payment.

According to OJK's chairman, the COVID-19 outbreak mostly hit tourism and import-export businesses.

Therefore, apart from easing credit collectability, OJK will also plan to ease liquidity to banks offering credit to the affected sectors.

"With other agencies, we will further explore what kind of cooperation we can establish to facilitate support for the affected businesses," Santoso added.

Related news: OJK slashes 2019 credit growth target to 9-11 percent