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indonesia plans to cancel 550 million dollars in small business debts

Indonesia plans to cancel up to $550 million in bad debts for small businesses to stimulate lending and economic growth. The government is set to introduce a regulation allowing state-owned banks, including PT Bank Mandiri and PT Bank Rakyat Indonesia, to forgive troubled loans totaling as much as 8.7 trillion rupiah. Discussions are ongoing regarding which types of loans will be eligible for forgiveness.
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