The ongoing coronavirus pandemic (“ COVID-19 ”) is having a worldwide impact upon debtors as regards their abilities to fulfill their credit or financing payment obligations. In order to mitigate this impact, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) recently issued Regulation No. 11/POJK.03/ 2020 on National Economic Stimulus as Countercyclical Policy in Relation to the Impact of the Outbreak of the Coronavirus Disease 2019 (“
OJK Sets Countercyclical Policy for Banks and Their Debtors in Effort to Mitigate the Impacts of the COVID-19 Pandemic
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