Australia to Extend Massive Loan to Indonesia

A USD1 billion standby loan from the Australian government will be made available to Indonesia to assist the Southeast Asian country in coping with the global financial crisis. “During the crisis, all countries need financial support, including Indonesia,” Australian Prime Minister Kevin Rudd said. Indonesia projected that its 2009 budget deficit will hit USD4.37 billion. (“Australia offers USD1 bil. standby loan to Indonesia” - Agencies, Dec. 10, 2008)

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