Lawmakers have until Monday next week to green-light an agreement between Republicans and Democrats to allow more borrowing and ensure the country doesn't miss loan repayments.

Around the world, BRI nations have come under strain as soaring inflation and interest rates, compounded by the lingering impact of the Covid-19 pandemic, have hurt their ability to repay debts.

They say that encouraging the people to take up loans will lead to an increase in household debt.

Suhaimi Abdul Rahman says the move will only benefit banks which collect interest.

The loans are a win for Prime Minister Sheikh Hasina ahead of an election and the country, which has seen a widening of its current account deficit, depreciation of currency and a decline in its foreign exchange reserves.

The US is probing many fraud cases pegged to US government assistance programs, such as the Paycheck Protection Program, unemployment insurance and Medicare.

Bank Negara is expected to continue increasing the overnight policy rate which currently stands at 2.75%.

To access the US$20 billion worth of grants and concessional loans, Indonesia has committed to capping power sector emissions at 290 million tonnes by 2030 - and with a peak that same year.

A former banker says such power should be given to the government under the authority of Parliament.

Prime Minister Ismail Sabri Yaakob says this is to encourage the youth to work hard and score well in their studies.

Nevertheless, they say the current overnight policy rate of 2.25% is still manageable compared to the 3.25% seen in 2019.

The minister says the matter will be reviewed after six months but 'now is not the time' to take legal action given the pandemic situation.