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Ada Pertanyaan? Hubungi Kami Nadia Maharani, Rofiq Hidayat
The Rupiah’s exchange rate against the United States dollars continues to plummet, reaching IDR 13.300 per USD. The depreciation of the IDR against the USD is leading to alarming effects on Indonesia’s economic stability. Members of the parliament are concerned with this situation, and are blaming government’s inability to cope with the declining economy.“Due to the nation’s economical instability, I propose a complete evaluation of the government’s economic team,” said lawmaker Sukamta (Commission I) in Jakarta on Tuesday.
Mr. Sukamta is of the view that the government should do more to improve the economy than using excuses such as the slow global economy. He sees that such excuses simply indicate the government’s weakness in managing the country’s economy.
Mr. Sukamta further commented that the Ministry of Finance predicted that the IDR’s exchange rate will be maintained at IDR 12.800 to 13.200 per USD. He also highlighted the government’s promise to monitor and control inflation. Mr. Sukamta then questioned the government’s commitment and work ethic in regard to its promises.
“It seems as if they want this situation to arise. There may even be signs of keeping control of the matter so that certain parties can rake the benefits from the weak economy,” Mr. Sukamta asserted.
Agus Martowardojo, Governor of Bank Indonesia, stated that his institution is maintaing the IDR’s exchange rate at IDR 13.300 per USD. The Governor, however, did not comment on the effect this is having on the State Budget. As the former Ministry of Finance, said the public should not be concerned as the matter can be solved by increased imports and or controls on exports.
In an effort to prevent further difficulties, lawmaker Muhammad Misbakhun (Commission XI) expressed his view on the urgent need to establish a strong legal framework for a Financial System Safety Net (JPSK). Although Indonesia already has the Financial Services Authority (OJK), Mr. Misbakhun explained that the OJK currently has no capacity to overcome a crisis if one arose, as the institution is still struggling with internal issues.
Mr. Misbakhun believes that by creating a legal framework for a JPSK, Indonesia can avoid the weaknesses in the financial system, especially during a crisis. When it is passed, the JPSK Law will provide a strong foundation for national economy stability.
(hot/kc)
Nadia Maharani, Rofiq Hidayat
The Rupiah’s exchange rate against the United States dollars continues to plummet, reaching IDR 13.300 per USD. The depreciation of the IDR against the USD is leading to alarming effects on Indonesia’s economic stability. Members of the parliament are concerned with this situation, and are blaming government’s inability to cope with the declining economy.“Due to the nation’s economical instability, I propose a complete evaluation of the government’s economic team,” said lawmaker Sukamta (Commission I) in Jakarta on Tuesday.
Mr. Sukamta is of the view that the government should do more to improve the economy than using excuses such as the slow global economy. He sees that such excuses simply indicate the government’s weakness in managing the country’s economy.
Mr. Sukamta further commented that the Ministry of Finance predicted that the IDR’s exchange rate will be maintained at IDR 12.800 to 13.200 per USD. He also highlighted the government’s promise to monitor and control inflation. Mr. Sukamta then questioned the government’s commitment and work ethic in regard to its promises.
“It seems as if they want this situation to arise. There may even be signs of keeping control of the matter so that certain parties can rake the benefits from the weak economy,” Mr. Sukamta asserted.
Agus Martowardojo, Governor of Bank Indonesia, stated that his institution is maintaing the IDR’s exchange rate at IDR 13.300 per USD. The Governor, however, did not comment on the effect this is having on the State Budget. As the former Ministry of Finance, said the public should not be concerned as the matter can be solved by increased imports and or controls on exports.
In an effort to prevent further difficulties, lawmaker Muhammad Misbakhun (Commission XI) expressed his view on the urgent need to establish a strong legal framework for a Financial System Safety Net (JPSK). Although Indonesia already has the Financial Services Authority (OJK), Mr. Misbakhun explained that the OJK currently has no capacity to overcome a crisis if one arose, as the institution is still struggling with internal issues.
Mr. Misbakhun believes that by creating a legal framework for a JPSK, Indonesia can avoid the weaknesses in the financial system, especially during a crisis. When it is passed, the JPSK Law will provide a strong foundation for national economy stability.
(hot/kc)