2 hours ago
7
March 19, 2025 | 05:28 am
TEMPO.CO, Jakarta - Composite Stock Price Index (IHSG) experienced selling pressure today, Tuesday, March 18, 2025. There are several factors from within and outside Indonesia that are suspected to be the trigger.
The decline in the IHSG is near the plan to remove the debt of MSMEs (Micro, Small & Medium Enterprises) by the State-Owned Banks Association (Himbara). Minister of MSMEs Maman Abdurrahman stated that the removal plan has no relation to the decline of the IHSG. According to Maman, the removal of SME debt will actually benefit the banking industry and market players.
He stated that investors' concerns about the MSMEs debt removal program are unfounded. He explained that this policy is carried out through strict and not arbitrary mechanisms. In fact, the removal of these debts will improve the financial statements of Himbara banks by clearing bad debts that are difficult to collect.
"Let me clarify, the removal of MSMEs debt actually benefits the banking industry. With the debts being eliminated, the bank's financial records become healthier. There is nothing to worry about," said Maman after a working meeting with the House of Representatives Commission VII at the House of Representatives building, Senayan, South Jakarta, on Tuesday, March 18, 2025.
Maman also emphasized that the market should view this policy as a positive step, not as a threat to economic stability. "In fact, the market should be thankful because our Himbara banks are becoming healthier," he said.
Regarding the progress of debt removal, Maman mentioned that the process is still ongoing and is currently awaiting the results of the General Meeting of Shareholders (GMS) at each Himbara bank. The target of debt removal for 67,000 MSMEs debtors in March 2025 is still under evaluation.
"It's still in process, we are waiting for the GMS of each bank," he said.
He also requested that there be no excessive speculation about the impact of this policy on the capital market. "Please don't misunderstand, the debt removal program actually cleans up financial records of debtors," he said.
Editor's Choice: IHSG Trading Halt: How Does the Situation Compare to 1998 Crisis and COVID-19 Pandemic?
Click here to get the latest news updates from Tempo on Google News
IHSG Trading Halt: How Does the Situation Compare to 1998 Crisis and COVID-19 Pandemic?
8 jam lalu
IHSG plummeted today. Indonesia has also experienced economic shocks in 1998 and during the Covid-19 pandemic.
DPR Ensures Sri Mulyani Will Not Resign, Attributes Stock Index Plunge to Market Sentiment
10 jam lalu
Deputy Speaker of DPR Sufmi Dasco Ahmad affirmed that the rumor about Finance Minister Sri Mulyani resigning is untrue amid plummeting IHSG.
Lawmakers Visit IDX After IHSG Trading Halt: 'Restoring Market Confidence'
10 jam lalu
Legislators said they fully supports the Financial Services Authority (OJK) and IDX in addressing the IHSG market downturn.
Government Seeks to Soothe Market Turmoil as IHSG Plummets
11 jam lalu
Finance Minister Sri Mulyani presents the positive growth of the state budget. She is trying to calm the panicked market due to the plunging IHSG.
Indonesian Finance Minister Denies Resignation Rumours Amid Stocks Plunge
11 jam lalu
Indonesian stocks fell as much as 7.1% on Tuesday, March 18.
OJK to Unveil New Policy Amid Market Turmoil as IHSG Plummets
11 jam lalu
The Financial Services Authority (OJK) is preparing a new policy to address the declining condition of the IHSG. It will be announced tomorrow.
IHSG Faces Trading Halt Today: First Time Since Covid-19 Crisis
12 jam lalu
IDX implemented a 30-minute IHSG trading halt after the index fell more than 5 percent, before closing at 6,076, down 6.11%.
IDX: Many Factors Contribute to Indonesian Stock Market Plunge
12 jam lalu
IDX chair did not deny that domestic factors also played a role in the significant decrease in the stocks.
Economist Links IHSG Plummet to TNI Bill Revision
14 jam lalu
Economist Celios Nailul Huda mentioned that the TNI Bill revision triggers the plummeting IHSG.
Analysts Reveal Causes of Investors' Panic Selling as IHSG Plummets Sharply
14 jam lalu
If the foreign investor's panic selling continues, Audi warns that the IHSG has the potential to break the psychological level of 6,000.
