Things were looking shaky for Indonesia this time last year. Their exchange rate fell 20 percent from February to April. The collapse in tourism and fall in commodity prices meant the foreign exchange they normally used to finance those debts was evaporating. Indonesia needed international help.
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Singapore inks 2 agreements to advance sustainable infrastructure in the region
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The initiative comes under a tie-up which was first inked in between government facilitation office Infrastructure Asia and the Asian Development Bank ADB. The cooperation agreement has now been renewed, and it will see both parties working together to run a series of finance clinics to encourage governments to build sustainability considerations in developing their infrastructure programmes. Regional government officials and industry experts will gather at the clinics to showcase successful case studies. In announcing the collaboration on Wednesday, Ms Indranee, who is also Minister in the Prime Minister's Office, said that the clinics will strengthen and grow the pipeline of bankable sustainable infrastructure projects in the region, allowing the region to better tap commercial funding sources and bringing it closer to a net-zero future. She also highlighted the role multilateral development banks MDBs , such as the ADB, have in spurring development opportunities in the region. Infrastructure Asia also signed a new memorandum of understanding with India's national investment promotion agency Invest India. The collaboration will support infrastructure development in India and promote private sector partnerships through knowledge sharing, and advisory in the funding and implementation of infrastructure projects.
Statistician for the Economic Monitoring and Analysis Program (EconMAP) of the Pacific Islands
In a press conference, PSA head Dennis Mapa said the main contributors to the gross domestic product GDP growth in this period were wholesale and retail trade, construction, and transportation and storage. He added that the significant economic sectors of agriculture, forestry, and fishing, as well as industry and services, all posted positive growths in the second quarter. On the demand side, Mapa said household final consumption expenditure grew by 8. The recovery "remains strong due to improved risk management," Socioeconomic Planning Secretary Arsenio Balisacan said at the same press conference.
Secretary of State Wendy Sherman earlier this week and raised the issue, government sources told VOA late Friday on condition of anonymity. Pakistan last week reached a staff-level agreement with the IMF for the revival of a multibillion-dollar bailout package. Foreign Ministry spokesperson Asim Iftikhar Ahmad has confirmed the phone contact between Bajwa and Sherman but did not share details. A State Department spokesperson in Washington would not directly confirm whether the conversion had taken place.
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