OJK Will Deepen And Evaluate The Extension Of Credit Restructuring Until 2025

OJK (photo: dock. Antara)

JAKARTA The government has requested an extension of the Covid-19 credit restructuring program until 2025. The government implemented the Covid-19 credit restructuring stimulus policy in March 2020 and ended on March 31, 2024.

Meanwhile, the end of the policy coincided with the government's revocation of the status of the COVID-19 pandemic in June 2023, taking into account the Indonesian economy which has recovered from the impact of the pandemic, including the conditions of the real sector.

Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said his party would conduct an in-depth investigation regarding the plan to extend the Covid-19 credit restructuring.

"I heard that, we want to explore what is meant by matters related to (the extension of bank credit restructuring)," he said after the Bundaku Financial Education Talkshow on Tuesday, June 25.

Mahendra conveyed that his party in making decisions to end the restructuring of Covid-19 credit had calculated in terms of its impact by taking into account the adequacy of capital, backup or reserve losses of decreased value (CKPN), liquidity, and capacity for credit growth.

"Yesterday in the decision making for the termination of the pandemic credit restructuring, it has been calculated in terms of capital adequacy, CKPN reserves, nor does it interfere with liquidity and capacity for credit growth have been seen, observed, and guarded," he said.

According to Mahendra, with the end of the Covid-19 credit restructuring policy, credit growth in 2024 was higher than the previous year.

"So, from that point of view [the end of the stimulus] is actually what happened or at the end of March the tempo of the day, or after that, nothing is an anomaly," he said.

Mahendra said that his party would conduct an evaluation of proposals from the government regarding the extension of the Covid-19 credit restructuring.

"So we conducted an evaluation, both related to what was completed last March, which restructured the pandemic credit, as well as the issues raised (extended the restructuring of Covid-19 credit)," he explained.

Even so, Mahendra conveyed that he understood and understood the direction of the government's proposal for the restructuring of Covid-19 credit to be extended because there were several potential credit growth in certain segments. "There is a special concern for the potential for credit growth in certain segments," he said.