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Jakarta, CNBC Indonesia – Indonesian financial markets closed unevenly yesterday. The Composite Stock Price Index (IHSG) and government bond prices strengthened, but the rupee exchange rate stagnated.
Yesterday, JCI strengthened 0.85% to 5,176.1. This made JCI even happen for eight days straight. In these eight days, the JCI increased to 5.06%.
Meanwhile, the exchange rate of the rupee against the United States dollar (US) closed again stagnant in spot market operations. US $ 1 is equivalent to Rp.14,680, a position that was closed unchanged in the last two trading days.
Then the performance (performance) the 10-year benchmark public debt fell 2.2 basis points (bp) to 6.86%. Decrease performance indicates that bond prices are increasing.
The feeling that circulated yesterday was something mixed. Especially about the latest economic projections from the International Monetary Fund (IMF).
The IMF now estimates that the world economy in 2020 will experience a contraction (negative growth) of 4.4%. It improved compared to the projection published in April, that is, -4.9%.
“The global economy is slowly emerging from the abyss. But with the coronavirus still spreading, some countries are beginning to slow down the reopening of public activities (reopening) and some have even started implementing regional quarantine (emergency shutdown) local scale. The journey of global economic recovery to pre-pandemic levels is still long and prone to reverse, “the report wrote.
However, this based institution has lowered Indonesia’s economic growth projection. Last June, the IMF estimated that the Indonesian economy in 2020 would contract by 0.3% and the forecast for October was lowered to -1.5%.
“Almost all developing countries are expected to see an economic contraction this year. Meanwhile, countries like India and Indonesia are struggling to control the pandemic,” the IMF report wrote.
