Like many other economies, the Indonesian economy has been affected by the deterioration in the global economic outlook and turbulence in the financial markets. Learning from lessons learned from the 1997/98 Asian Financial Crisis (AFC) and the 2008/09 global financial crisis, the Government has introduced a number measures to safeguard against any major trade and financial impacts emanating from the current global economic situation. The proposed $500 million INO-PFF (a countercyclical support facility with a precautionary financing option) will enhance the Government's preparedness to address the potential adverse impact of increased volatility in the financial market, given the government's increased dependence on the market to meet its budget financing needs.
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