Alternative Funding Sources During a Financial Crisis

Economics & Macro

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Yosepha Pusparisa 19/10/2020 08:35 WIB

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The COVID-19 pandemic has severely impacted the Indonesian economy. 26.5% of respondents chose to borrow money from immediate family, such as parents, spouses, children, siblings, or other close rela

Other Funding Sources During Financial Hardship

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Alternative Funding Sources During a Financial Crisis

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Other Funding Sources During Financial Hardship

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The Covid-19 pandemic has severely impacted the Indonesian economy, forcing people to seek alternative sources of funds during financial hardship.

According to a Kompas Research and Development (Litbang Kompas) survey, the majority of respondents sought loans from close family members. 26.5% of respondents chose to borrow from parents, spouses, children, siblings, or other close relatives.

Meanwhile, 9.2% of respondents opted to sell their belongings or assets, while 4.8% chose to pawn their possessions when facing financial difficulties.

The government continues to urge the public to practice the "3M" health protocols: washing hands with soap, wearing masks, and maintaining physical distancing. This is done to prevent the spread of Covid-19. Controlling the pandemic will also accelerate economic recovery.

Editor : Muhammad Ahsan Ridhoi

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."