Rupiah's Slump Puts $25 Billion Indonesian Projects on Hold
- Government estimates 15 GW power projects may be rescheduled
- Shippers of minerals ordered to repatriate export earnings
Photographer: Dimas Ardian/Bloomberg
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Indonesia plans to delay $25 billion worth of power projects as it seeks to rein in a widening current-account deficit and a selloff in the nation’s currency.
The government will delay almost half of the planned 35 gigawatts of electricity projects as it wants to ease pressure on imports, Energy and Mineral Resources Minister Ignasius Jonan told reporters in Jakarta on Tuesday. The deferment may help reduce imports of about $8 billion to $10 billion, he said.