VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Sri Lanka will receive the first tranche of about $330 million from the International Monetary Fund in the next two days, and, going forward, disbursements would be tied to reviews that take place every six months, an IMF official said on Tuesday.

The IMF on Monday said its executive board approved a nearly $3 billion bailout for Sri Lanka, and the office of the country's president said the programme will enable it to access up to $7 billion in overall funding.

Economic mismanagement coupled with the impact of the COVID-19 pandemic left Sri Lanka severely short of dollars for essential imports at the start of last year, tipping the country into its worst financial crisis in seven decades.

Peter Breuer, Senior Mission Chief for Sri Lanka, Asia and Pacific Department at IMF, said debt sustainability was one of the key criteria for the IMF to approve a bailout for any economy.

International dollar bonds issued by the country soared following the IMF package approval. Bonds were up by 0.69 cents to 1.50 cents across tenors, with the March 2029 bond leading the gains.

The programme is expected to catalyse additional external support, with funding from the World Bank and Asian Development Bank to the tune of $3.75 billion expected, IMF said in a statement.

The biggest bilateral creditors, including China, India and Japan, have guaranteed support to Sri Lanka in its efforts to put the economy back on track.

The island nation aims to announce a debt-restructuring strategy in April and step up talks with commercial creditors ahead of an IMF review of the bailout package in six months, its central bank governor told Reuters earlier this month.

"Significant austerity will bring further short-term challenges to Sri Lankans who are already battling eye-watering inflation, rising poverty and shortages of essential goods and services," said Katrina Ell, Senior Economist at Moody's Analytics. (Reuters)

Jakarta (voinews): Indonesian youngsters can contribute to the climate justice movement by encouraging world leaders to realize more equitable climate change mitigation and adaptation, Environment and Forestry Minister Siti Nurbaya Bakar said.

"Involving the younger generation is very important because currently, there are 1.8 billion people aged 10 to 24 years worldwide. In Indonesia, 65 million people or 20 percent of the population are included in this age group," she pointed out here on Monday.

At the graduation ceremony for the participants of the second batch of the Green Leadership Indonesia Program, she emphasized that young people must actively preserve the environment from various environmental damages caused by climate change.

She recalled that many major historic events in Indonesia have happened because of the ideas and works of young people.

"Youths are able to solve many problems and changes. The Youth Pledge (in 1928), the Rengasdengklok Incident (in 1945), as well as the Reformation (in 1998) were some of the evidence (of the youth movements) that had immediate (and) significant impacts," the minister said.

A young leader with a sense of social and ecological justice will be capable of realizing a development vision through a more adaptive road map with real impacts, she added.

She said she believes that the younger generations will be better prepared to face the current triple planetary crisis, namely climate change, pollution, and loss of biodiversity.

The Green Leadership Indonesia Program was initiated by the Indonesian Green Institute and supported by the Indonesian Environmental Forum (Walhi), the Indonesian Traditional Fishers Association (KNTI), as well as the Association for Community and Ecologically-Based Law Reform (HuMa).

The environmental education activity requires participants to take part in fieldwork and scientific debriefings. One of the graduates, Julia Dahlan, said that the Green Leadership Indonesia Program has taught her the importance of sustainability.

Throughout the program, the participants also learned to think more critically, act sustainably, and lead their lives ethically, as well as apply their knowledge and skills to benefit the environment and society, she added.

“As I look to the future, I have great hope and optimism for a more sustainable and just Indonesia. I believe that our generation has the capability to collaborate to change history and create a future that is more sustainable, fair, and equitable," Dahlan said. (Antaranews)

Jakarta (Voinews): Indonesia's Ministry of Trade has continued its commitment to supporting micro, small, and medium enterprises (MSMEs) to make them competitive in marketplaces through training and partnerships with modern retailers.

Secretary of the Trade Policy Agency (BKPerdag) of the ministry Hari Widodo said that the government is aiming to help 30 million MSMEs enter the digital ecosystem by 2024. Thus, assistance will be needed to help MSMEs level up and dominate marketplaces.

"The ministry has prepared several strategies to boost the quality of digital trade, such as coaching and mentoring, facilitating and recruiting facilitators to increase education related to e-commerce," he added at the opening of the "Gambir Trade Talk #9" here on Monday.

Based on the e-conomy SEA Report 2022, the value of Indonesia's digital economy reached US$77 billion or grew by 22 percent compared to the previous year. The value is projected to reach US$130 billion by 2025.

According to Widodo, the main driver of growth in Indonesia's digital economy are marketplaces, which contributed 76 percent in 2022. Marketplaces are projected to contribute US$95 billion by 2025.

"MSMEs must be continuously supported to dominate marketplaces, especially in the country. To this end, constructive inputs are needed to formulate strategies and policies that are comprehensive and collaborative from central and regional governments, academicians, and other business players," he explained.

Meanwhile, Head of the Institute for Economic and Social Research (LPEM) at the University of Indonesia Chaikal Nuryakin said that: "The 'Love Indonesian Products' (campaign) is not only about consumers must use (local) products but producers must also improve the quality (of products).” he stressed.

According to research conducted by the Institute for Development of Economics and Finance (INDEF), 98.05 percent or 12,789 stores in marketplaces are dominated by MSMEs, while big-scale enterprises account for 1.9 percent of the stores. (Antaranews)

Jakarta (voinews): Located in Indonesia's western tip, Sabang City in Aceh is a suitable venue for hosting water sports events since it is famous for marine tourism, the Tourism and Creative Economy Ministry has said.

"Sports tourism is very popular in Indonesia and the world, and Sabang is very ready (to hold) nautical sports events," director of local events at the ministry, Reza Fahlevi, said in Sabang city on Monday.

Weh Island in Sabang, which is rich in sea resources, is well-known on foreign shores. Hence, Fahlevi said, Sabang can hold marine sports events such as a triathlon series, bike racing, marathons, Gran Fondo, and others.

It can also host water sports such as diving, open-water swimming, and finswimming.

"The ministry actually has an agenda for Sabang to be one of the Wonderful Triathlon Series hosts," Fahlevi, who also serves as the acting mayor of Sabang, said.

Recently, the Sabang City Government held the 2023 Sabang Marine Festival (SMF) with the theme of “Sabang as The Gate To Indonesian Maritime Wealth,” which highlighted the region's maritime and cultural potential.

During the event, Sabang City Administration and the Sabang Free Trade Agency (BPKS) also held an Open Water Swimming (OWS) Competition to promote the potential of sports tourism.

"Other than to show the ability of athletes, this activity is a way to promote sports tourism in Sabang City," the city's Head of Youth and Sports, Irfani, said.

Sabang in Weh Island, which offers many natural attractions such as beautiful coral reefs and activities such as snorkeling and diving, is located 14 nautical miles from the province's capital, Banda Aceh.

One of the historical attractions of Sabang City, which has been designated as a free port area, is a Japanese fort. The city is also home to the Indonesian western region zero-kilometer monument. (Antaranews)