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from THE JAKARTA POST -- THURSDAY, DECEMBER 18, 2008 -- PAGE 6 The timing couldn't have been better. Now that international trade is being squeezed by a credit crunch caused by global financial turmoil, and the creditworthiness of many importers overseas has become questionable, the Indonesian government is strengthening its export- financing mechanism.
The first step towards this facility was the enactment by parliament on Tuesday of a law governing export financing agency (LPEI), the first time such a financial institution will be founded on a law.
Different from the state-owned Indonesian Export Bank (BEI), which lends only on the back of collateral, LPEI will be able …