Responding To The Extension Of Emergency PPKM, Here Are Six OJK Steps To Maintain Financial Sector Stability

Illustration. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) said that the current pandemic must be faced together by requiring hard work from various parties so that the economic recovery process can be faster.

"In order to maintain financial sector stability and encourage economic recovery during the pandemic, the authorities have released six strategic policies which are the result of collaboration with the government (Ministry of Finance) and Bank Indonesia," said OJK in a press statement Wednesday, July 21.

First, overseeing the implementation of the Emergency Community Activity Restrictions (PPKM), particularly related to the implementation of the role of the financial services sector as an essential sector. Second, accelerate the implementation of a well-distributed vaccination program.

Three, the acceleration of central and regional government spending as a fiscal policy to maintain demand and the level of public consumption in the midst of sectoral recovery disparities.

Fourth, accelerate the downstreaming of the digital economy and finance while remaining aware of cyber risk. Five, increasing penetration of financial services and deepening financial markets to maintain financial stability in a sustainable manner.

And the sixth is to encourage the development of sustainable finance to finance sustainable economic recovery and mitigate climate-related risk, by carrying out strategic initiatives.

"We can all participate in promoting economic recovery by implementing health protocols and carrying out vaccinations so that the transmission of the COVID-19 virus can be suppressed," concluded the OJK.