Supporting The State Budget, Bank Indonesia Buys IDR 116 Trillion Of SBN

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) reports that as of June 15, 2021, the purchase of Government Securities (SBN) released by the government has reached a value of Rp. 116.26 trillion.

BI Governor Perry Warjiyo said the amount consisted of Rp40.80 trillion through the main auction mechanism and Rp75.46 trillion through the Greenshoe Option (GSO) mechanism.

"Bank Indonesia is also continuing to purchase SBN in the primary market as part of a policy synergy with the government for the 2021 APBN funding," he said in a virtual press conference after the Board of Governors Meeting on Thursday, June 17.

According to Perry, the steps taken by the central bank are part of an accommodative monetary policy to support the national economic recovery.

"Paying attention to the continuing current dynamics globally and domestically, Bank Indonesia continues to strengthen policy synergies with the government and the Financial System Stability Committee (KSSK)," he said.

According to VOI records, the number of purchases of SBN by BI continued to increase in line with the implementation of the Joint Decree of the Minister of Finance and the Governor of Bank Indonesia concerning the Scheme and Coordination Mechanism of SBN Purchase by Bank Indonesia in the Primary Market.

Until April 2021, SBN purchased by BI was recorded at IDR 101.91 trillion, consisting of IDR 28.33 trillion through the main auction mechanism, and IDR 73.58 trillion through the Greenshoe Option (GSO).

Meanwhile, the absorption of SBN by Bank Indonesia throughout 2020 is known to reach a quite fantastic value, which is Rp. 601.7 trillion.