2022 State Budget: Fiscal Policy and Structural Reform

Global Regional Ample Lines of Defense Against External Shocks Ample Reserves FX Reserve Swap Arrangement Bilateral • Ample level of FX reserves to buffer against external shock FX Reserves as of of November 2021: US$145.9 bn Japan Singapore China Malaysia ASEAN Swap Arrangement (ASA) Chiang Mai Initiative Multilateralization (CMIM) Agreement Renewed a 3 year USD22.76 billion swap line with Japan on October 14th, 2021 ● The facility is available in USD and JPY Renewed a 1 year SGD/IDR swap arrangement with the size up to USD10 bn (equivalent) on November 4th 2021 Renewed a 3 year swap arrangement and increased the size of swap line up to CNY 200 bn / USD 30 billion in November 2018 Established a 3 year RM/IDR swap arrangement with a size up to USD2 bn (equivalent) in September 2019 Entitled to a maximum swap amount of USD600 million under ASA The first MoU on the ASA was signed in 1977 among 5 ASEAN Central Banks with total facility USD100 million Increased in size to U.S.$2 billion in 2005 Entitled to a maximum swap amount of US$ 22.76 bn under the ASEAN+3 (Japan, China, and Korea) FX reserves pool created under the agreement • Came into effect in 2010 with a pool of US$120 bn • Doubled to US$240 bn effective July 2014 IMF Global Financial ⚫ Safety Net - GSFN Source: Bank Indonesia Indonesia is entitled to access IMF facilities for crisis prevention to address potential (actual) BOP problem Such facilities include Flexible Credit Line (FCL) and Precautionary and Liquidity Line (PLL) 54

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