22 Jul 2019
Minister of Finance Issues Regulation Establishing Sanctions for Failure to Repatriate Proceeds of Natural-Resources Exports
A. Background The start of 2019 saw a renewed attempt by the Government to compel exporters of natural resources-based commodities to repatriate their export earnings and deposit them in the Indonesian financial system as part of a series of measures that were adopted at the time to bolster the rupiah against the various headwinds buffeting emerging-market currencies. The new rules on the repatriation…