Minggu, 07 Februari 2010
Cabinet reshuffle buzz: Truth or dare?
Politicians and observers apparently are talking about something this weekend: Is the cabinet reshuffle proposal from the Democratic Party a bluff or a real threat?
Earlier on Thursday, three Democratic Party executives, Amir Syamsuddin, Anas Urbaningrum and Jafar Hafsah, met with President Susilo Bambang Yudhoyono, proposing the latter to replace ministers from disloyal coalition partners, which the three said had refused to defend the government in the investigation of the Bank Century bailout case.
The parties are the Golkar Party, the Prosperous Justice Party (PKS), the National Mandate Party (PAN), the United Development Party (PPP) and the National Awakening Party (PKB).
The ministers from coalition parties include Communications and Information Technology Minister Tifatul Sembiring (PKS), Religious Affairs Minister Suryadharma Ali (PPP), Agriculture Minister Suswono (PKS), Maritime Affairs and Fisheries Minister Fadel Muhammad (Golkar), Manpower and Transmigration Minister Muhaimin Iskandar (PKB).
But presidential spokesman Julian Aldrin Pasha said the President had not given a response to the proposal.
Yudhoyono’s rivals in the July 8 presidential election, former president Megawati Soekarnoputri of the opposition Indonesian Democratic Party of Struggle (PDI-P) and former vice president Jusuf Kalla of Golkar, said over the weekend it was the President’s right to decide a reshuffle.
“That’s the President’s business. If he considers it important, that is good,” Megawati said while opening the regional conference of the PDI-P in Bali.
A PDI-P lawmaker told The Jakarta Post that the Democratic Party had approached Megawati, opening four possible positions for the opposition to fill.
Kalla, meanwhile, said that he was ready to see Golkar cadres replaced or retained.
Several critics aired their opinions Saturday, saying that the proposal is a bluff to make coalitionparties gather their acts together.
“In political communication theory, this is called a ‘fear-arising communication’ model, which in practice has never succeeded,” political observer Tjipta Lesmana told a discussion in Jakarta, Antara news agency reported. “This model has proven to be ineffective. The more pressure applied, the harder partners defy.”
University of Indonesia political observer Arbi Sanit said Golkar and PKS were the main targets of the reshuffle “threat”, with their being “most critical” among coalition members during questioning sessions of the inquiry committee. The inquiry committee has summoned both Vice President Boediono and Finance Minister Sri Mulyani Indrawati to explain the decision behind the Rp 6.76 trillion (US$716 million) bailout of the ailing bank. Some of the lawmakers launched harsh questions to the Vice President and the minister and others said in public that they believed Boediono should be impeached.
He predicted that in response to the threat, Golkar and the PKS would seek to negotiate with the Democratic Party, a move that could lead to a vague conclusion to the committee’s hearing.
Democratic Party lawmaker Ramadhan Pohan said his party did not press the coalition partners, but to the contrary, the partners were pressing his.
He said the proposal for reshuffle was a “call” and a “soft reminder” for partners, not an attempt to press them.
Earlier on Thursday, three Democratic Party executives, Amir Syamsuddin, Anas Urbaningrum and Jafar Hafsah, met with President Susilo Bambang Yudhoyono, proposing the latter to replace ministers from disloyal coalition partners, which the three said had refused to defend the government in the investigation of the Bank Century bailout case.
The parties are the Golkar Party, the Prosperous Justice Party (PKS), the National Mandate Party (PAN), the United Development Party (PPP) and the National Awakening Party (PKB).
The ministers from coalition parties include Communications and Information Technology Minister Tifatul Sembiring (PKS), Religious Affairs Minister Suryadharma Ali (PPP), Agriculture Minister Suswono (PKS), Maritime Affairs and Fisheries Minister Fadel Muhammad (Golkar), Manpower and Transmigration Minister Muhaimin Iskandar (PKB).
But presidential spokesman Julian Aldrin Pasha said the President had not given a response to the proposal.
Yudhoyono’s rivals in the July 8 presidential election, former president Megawati Soekarnoputri of the opposition Indonesian Democratic Party of Struggle (PDI-P) and former vice president Jusuf Kalla of Golkar, said over the weekend it was the President’s right to decide a reshuffle.
“That’s the President’s business. If he considers it important, that is good,” Megawati said while opening the regional conference of the PDI-P in Bali.
A PDI-P lawmaker told The Jakarta Post that the Democratic Party had approached Megawati, opening four possible positions for the opposition to fill.
Kalla, meanwhile, said that he was ready to see Golkar cadres replaced or retained.
Several critics aired their opinions Saturday, saying that the proposal is a bluff to make coalitionparties gather their acts together.
“In political communication theory, this is called a ‘fear-arising communication’ model, which in practice has never succeeded,” political observer Tjipta Lesmana told a discussion in Jakarta, Antara news agency reported. “This model has proven to be ineffective. The more pressure applied, the harder partners defy.”
University of Indonesia political observer Arbi Sanit said Golkar and PKS were the main targets of the reshuffle “threat”, with their being “most critical” among coalition members during questioning sessions of the inquiry committee. The inquiry committee has summoned both Vice President Boediono and Finance Minister Sri Mulyani Indrawati to explain the decision behind the Rp 6.76 trillion (US$716 million) bailout of the ailing bank. Some of the lawmakers launched harsh questions to the Vice President and the minister and others said in public that they believed Boediono should be impeached.
He predicted that in response to the threat, Golkar and the PKS would seek to negotiate with the Democratic Party, a move that could lead to a vague conclusion to the committee’s hearing.
Democratic Party lawmaker Ramadhan Pohan said his party did not press the coalition partners, but to the contrary, the partners were pressing his.
He said the proposal for reshuffle was a “call” and a “soft reminder” for partners, not an attempt to press them.
Garuda plans to develop secondary hubs, adds more routes
Indonesian flag carrier Garuda Indonesia plans to develop secondary hubs in Indonesian major cities in addition to its major hubs in Jakarta and Denpasar as part of its Quantum Leap program.
The secondary hubs would include cities such as Balikpapan in East Kalimantan, Medan in North Sumatra, Surabaya in East Java and Makassar in South Sulawesi, Garuda’s president director Emirsyah Satar said Wednesday.
Speaking at the Singapore Airshow in Changi, he said the secondary hubs were to generate local or feeder traffic as part of Garuda’s efforts to expand new routes to strengthen its domestic network.
Other efforts include feeds to and from international routes, and domestic hub by-pass routes for mature markets, such as the Medan-Surabaya route, without stopping over in Jakarta.
“We also plan to develop flights from all provincial capitals to Jakarta,” he told reporters.
Garuda is aiming to increase the frequency of flights covering existing high density networks.
Emirsyah said the Indonesian domestic market still had room to grow in the world’s largest archipelago with some 230 million people.
“The domestic market is about 40 million passengers so there is still plenty of room to grow,” he said.
“Especially now that we have regional autonomy in which each region has more freedom to handle its own affairs.”
Garuda recorded 1,333 departures per week in 2008 and aims for 2,702 departures per week by 2014.
On international routes, Garuda had 338 departures in 2008 and plans for 1,222 per week in 2014.
Emirsyah said the airline plans to expand routes to include Hong Kong, India and ASEAN countries as well as opening European and American routes.
Garuda will fly to Amsterdam as of June 1 with other cities being considered, including Frankfurt, London and Paris as well as Los Angeles.
Emirsyah said Garuda would still focus on the Asia Pacific region saying it was where the economic activities were taking place nowadays.
Emirsyah also said Garuda was pursuing full membership of global airline alliance arrangements.
“We have support from KLM and Korean Air for membership of the SkyTeam alliance,” he said.
Garuda also aims to increase its fleet of aircraft from 54 in 2008 to 116 by 2014.
The airline will use Boeing 737-800 New Generation for domestic and regional routes, Airbus 330-200/300 for medium-haul and Boeing 777-300 ER aircraft for long haul routes.
The secondary hubs would include cities such as Balikpapan in East Kalimantan, Medan in North Sumatra, Surabaya in East Java and Makassar in South Sulawesi, Garuda’s president director Emirsyah Satar said Wednesday.
Speaking at the Singapore Airshow in Changi, he said the secondary hubs were to generate local or feeder traffic as part of Garuda’s efforts to expand new routes to strengthen its domestic network.
Other efforts include feeds to and from international routes, and domestic hub by-pass routes for mature markets, such as the Medan-Surabaya route, without stopping over in Jakarta.
“We also plan to develop flights from all provincial capitals to Jakarta,” he told reporters.
Garuda is aiming to increase the frequency of flights covering existing high density networks.
Emirsyah said the Indonesian domestic market still had room to grow in the world’s largest archipelago with some 230 million people.
“The domestic market is about 40 million passengers so there is still plenty of room to grow,” he said.
“Especially now that we have regional autonomy in which each region has more freedom to handle its own affairs.”
Garuda recorded 1,333 departures per week in 2008 and aims for 2,702 departures per week by 2014.
On international routes, Garuda had 338 departures in 2008 and plans for 1,222 per week in 2014.
Emirsyah said the airline plans to expand routes to include Hong Kong, India and ASEAN countries as well as opening European and American routes.
Garuda will fly to Amsterdam as of June 1 with other cities being considered, including Frankfurt, London and Paris as well as Los Angeles.
Emirsyah said Garuda would still focus on the Asia Pacific region saying it was where the economic activities were taking place nowadays.
Emirsyah also said Garuda was pursuing full membership of global airline alliance arrangements.
“We have support from KLM and Korean Air for membership of the SkyTeam alliance,” he said.
Garuda also aims to increase its fleet of aircraft from 54 in 2008 to 116 by 2014.
The airline will use Boeing 737-800 New Generation for domestic and regional routes, Airbus 330-200/300 for medium-haul and Boeing 777-300 ER aircraft for long haul routes.
BI keeps rate low at 6.5% to back growth
The central bank on Thursday kept its benchmark rate low at 6.5 percent for the sixth straight month despite the surge in the inflation rate in January in order to support the country’s economic growth.
“The board of governors is confident that inflationary pressure will not yet appear at least until the
first half of 2010. All in all, 2010 inflation is assured to remain in line with the target of 5 percent [plus minus 1 percent],” Bank Indonesia (BI) said in a statement, citing the upcoming harvest season as a determining factor.
The year on year inflation rate rose to 3.72 percent in January, a jump from 2.78 percent in December, due to the rising prices of staple and processed foods, the Central Statistics Agency (BPS) reported.
The monthly inflation rose to 0.84 percent in January from 0.33 percent in December.
BI’s move to hold its rate was expected by analysts. They said BI might start increasing its rate at the earliest in the second half of this year due to possible stronger pressures from higher energy prices.
“We expect BI to increasing the rate in June by 25 basis points,” said Eric A. Sugandi, adding that BI might continue increasing its rate by 25 basis point each month until September, bringing the rate to 7.5 percent.
“In the second half of 2010 we will see stronger inflationary pressures from rising energy prices in the world market that will be transmitted to Indonesia’s economy through non-subsidized fuel prices, higher import costs, and perhaps, subsidized fuel price rises,” he said.
The government is currently revising the 2010 state budget to accommodate changes in the macroeconomic assumptions, notably the Indonesian crude price.
In 2008 the government raised subsidized fuel prices by 28.7 percent on average as the 2008 budget was hit by the surge in global oil prices.
BI said the economy has continued to recover along with the global recovery. Acting BI Governor Darmin Nasution said last month the economy might grow 5.2 percent this year and 6 percent in 2011.
The economy was estimated to grow by 4.3 percent last year, the government said. The BPS will announce the official growth figure on Feb. 10.
Indonesia’s positive growth has helped attract capital inflows into the country, so that foreign exchange reserves rose US$3.5 billion to $69.6 billion in Jan. 31, BI said.
Citi analyst Johanna Chua said BI’s move to keep its rate would create positive market conditions.
“BI’s dovish stance in the midst of other Asian central banks turning hawkish should see sustained demand for Indonesian bonds,” she said.
BI expected the low BI rate could help banks to spur lending to expand between 17 percent and 20 percent this year.
As of December last year lending grew by only 10 percent due to a combination of higher lending rates along with businesses being reluctant to expand in the context of the global downturn.
“The board of governors is confident that inflationary pressure will not yet appear at least until the
first half of 2010. All in all, 2010 inflation is assured to remain in line with the target of 5 percent [plus minus 1 percent],” Bank Indonesia (BI) said in a statement, citing the upcoming harvest season as a determining factor.
The year on year inflation rate rose to 3.72 percent in January, a jump from 2.78 percent in December, due to the rising prices of staple and processed foods, the Central Statistics Agency (BPS) reported.
The monthly inflation rose to 0.84 percent in January from 0.33 percent in December.
BI’s move to hold its rate was expected by analysts. They said BI might start increasing its rate at the earliest in the second half of this year due to possible stronger pressures from higher energy prices.
“We expect BI to increasing the rate in June by 25 basis points,” said Eric A. Sugandi, adding that BI might continue increasing its rate by 25 basis point each month until September, bringing the rate to 7.5 percent.
“In the second half of 2010 we will see stronger inflationary pressures from rising energy prices in the world market that will be transmitted to Indonesia’s economy through non-subsidized fuel prices, higher import costs, and perhaps, subsidized fuel price rises,” he said.
The government is currently revising the 2010 state budget to accommodate changes in the macroeconomic assumptions, notably the Indonesian crude price.
In 2008 the government raised subsidized fuel prices by 28.7 percent on average as the 2008 budget was hit by the surge in global oil prices.
BI said the economy has continued to recover along with the global recovery. Acting BI Governor Darmin Nasution said last month the economy might grow 5.2 percent this year and 6 percent in 2011.
The economy was estimated to grow by 4.3 percent last year, the government said. The BPS will announce the official growth figure on Feb. 10.
Indonesia’s positive growth has helped attract capital inflows into the country, so that foreign exchange reserves rose US$3.5 billion to $69.6 billion in Jan. 31, BI said.
Citi analyst Johanna Chua said BI’s move to keep its rate would create positive market conditions.
“BI’s dovish stance in the midst of other Asian central banks turning hawkish should see sustained demand for Indonesian bonds,” she said.
BI expected the low BI rate could help banks to spur lending to expand between 17 percent and 20 percent this year.
As of December last year lending grew by only 10 percent due to a combination of higher lending rates along with businesses being reluctant to expand in the context of the global downturn.
President asked to appoint new BI chief
A legislator has requested President Susilo Bambang Yudhoyono appoint an officer to lead Bank Indonesia, saying an empty seat may affect the bank’s performance in maintaining Indonesia’s economic stability.
“The [central bank chief] position has been vacant for a year. It is about time the President pick a name,” legislator Arif Budimanta, a member of House of Representatives Commission XI overseeing financial affairs, told kompas.com on Sunday.
The post has been available since former BI chief Boediono posed his resignation after entering the presidential election race alongside running mate Yudhoyono.
Speculation has emerged that senior banker Agus Martowardjojo and economist Iman Sugema are among promising candidates for the position.
However, Arif said he refused to support a certain candidate. “Most importantly, the candidate must have a strong commitment to fighting corruption, be hard working and be good in monetary issues.” (nkn)
“The [central bank chief] position has been vacant for a year. It is about time the President pick a name,” legislator Arif Budimanta, a member of House of Representatives Commission XI overseeing financial affairs, told kompas.com on Sunday.
The post has been available since former BI chief Boediono posed his resignation after entering the presidential election race alongside running mate Yudhoyono.
Speculation has emerged that senior banker Agus Martowardjojo and economist Iman Sugema are among promising candidates for the position.
However, Arif said he refused to support a certain candidate. “Most importantly, the candidate must have a strong commitment to fighting corruption, be hard working and be good in monetary issues.” (nkn)
KPK to question Robert Tantular on Monday
The Corruption Eradication Commission [KPK] plans to summon the former owner of Bank Century Robert Tantular on Monday.
“We will question him either tomorrow [Monday] or Wednesday,” KPK spokesman Johan Budi SP told news portal tempointeraktif.com on Sunday.
KPK will question Robert on his possible involvement in the controversial Rp 6.76 trillion (US$714 million) bailout of Bank Century, now renamed Bank Mutiara.
The KPK initially planned to question Robert last Tuesday. However, the KPK failed to get approval from the Jakarta High Court.
Robert is currently serving a five-year prison sentence for committing fraud. (nkn)
“We will question him either tomorrow [Monday] or Wednesday,” KPK spokesman Johan Budi SP told news portal tempointeraktif.com on Sunday.
KPK will question Robert on his possible involvement in the controversial Rp 6.76 trillion (US$714 million) bailout of Bank Century, now renamed Bank Mutiara.
The KPK initially planned to question Robert last Tuesday. However, the KPK failed to get approval from the Jakarta High Court.
Robert is currently serving a five-year prison sentence for committing fraud. (nkn)
Senin, 01 Februari 2010
SBY to form committee to oversee economy
President Susilo Bambang Yudhoyono said he would soon form an economic committee, involving business communities, tasked to assist the government to help solve problems hampering economic growth.
“In the near term, I will form the National Economic Committee, which will follow the government along not only in crisis but also in normal times,” Yudhoyono said in his speech Friday before hundreds of participants attending an event organized by the Indonesian Chamber of Commerce and Industry (Kadin).
“Thus, when a crisis strikes we wouldn’t be so busy and would be able to respond properly,” he added.
Yudhoyono said the committee would comprise members and executives of Kadin.
The powerful business group Kadin has supported the government by providing constructive criticisms and creating a roadmap for Indonesia’s economy for the period 2009 to 2014.
The government said it wants to achieve an average economic growth rate of between 6.3 and 6.8 percent in the next five years.
Yudhoyono said that learning from the 1997-1998 Asian financial crisis and the recent global financial crisis, the country would need a solid partnership between the government, the private sector and economists to tackle economic issues arising.
There was no such partnership during the Asian crisis, which led to prolonged negative impacts affecting Indonesia’s economy, the President said.
The partnership, however, was built and maintained during the recent global crisis, and this helped the country to hit higher growth while many other economies suffered contraction.
Indonesia’s economy expanded by about 4.3 percent last year and is expected to accelerate to 5.5 percent growth in 2010, the government said.
The Central Statistics Agency will announce the official figure of last year’s growth on Feb. 10.
Hariyadi Sukamdani, Kadin’s vice chairman on fiscal policies, taxation and customs, said the committee would play a crucial role in managing the economy.
“The National Economic Committee is needed to simplify communications and coordination between the real sector and the government,” he said.
He added that the real sector now needs supportive government policies to help it to expand and boost economic growth.
He cited the example of the fiscal stimulus worth Rp 73.3 trillion (US$7.84 billion) provided by the government last year to cushion the negative impacts of the global crisis, but this did not help the real sector very much.
“Although the real sector really needed the government’s help [at that time],” he said.
Economist Dradjad H. Wibowo said the National Economic Committee might have similar tasks to the National Economic Council (NEC) in the US.
The NEC, formed in 1993, is also called advise President Barack Obama on economic policies. It is headed by Lawrence Summers, appointed by Obama in 2009.
The NEC’s four principal functions are: coordinating policy-making on domestic and international economic issues; coordinating economic policy advice to the president; ensuring that policy decisions and programs are consistent with the president’s economic goals; and monitoring the implementation of the president’s economic policies.
“In the near term, I will form the National Economic Committee, which will follow the government along not only in crisis but also in normal times,” Yudhoyono said in his speech Friday before hundreds of participants attending an event organized by the Indonesian Chamber of Commerce and Industry (Kadin).
“Thus, when a crisis strikes we wouldn’t be so busy and would be able to respond properly,” he added.
Yudhoyono said the committee would comprise members and executives of Kadin.
The powerful business group Kadin has supported the government by providing constructive criticisms and creating a roadmap for Indonesia’s economy for the period 2009 to 2014.
The government said it wants to achieve an average economic growth rate of between 6.3 and 6.8 percent in the next five years.
Yudhoyono said that learning from the 1997-1998 Asian financial crisis and the recent global financial crisis, the country would need a solid partnership between the government, the private sector and economists to tackle economic issues arising.
There was no such partnership during the Asian crisis, which led to prolonged negative impacts affecting Indonesia’s economy, the President said.
The partnership, however, was built and maintained during the recent global crisis, and this helped the country to hit higher growth while many other economies suffered contraction.
Indonesia’s economy expanded by about 4.3 percent last year and is expected to accelerate to 5.5 percent growth in 2010, the government said.
The Central Statistics Agency will announce the official figure of last year’s growth on Feb. 10.
Hariyadi Sukamdani, Kadin’s vice chairman on fiscal policies, taxation and customs, said the committee would play a crucial role in managing the economy.
“The National Economic Committee is needed to simplify communications and coordination between the real sector and the government,” he said.
He added that the real sector now needs supportive government policies to help it to expand and boost economic growth.
He cited the example of the fiscal stimulus worth Rp 73.3 trillion (US$7.84 billion) provided by the government last year to cushion the negative impacts of the global crisis, but this did not help the real sector very much.
“Although the real sector really needed the government’s help [at that time],” he said.
Economist Dradjad H. Wibowo said the National Economic Committee might have similar tasks to the National Economic Council (NEC) in the US.
The NEC, formed in 1993, is also called advise President Barack Obama on economic policies. It is headed by Lawrence Summers, appointed by Obama in 2009.
The NEC’s four principal functions are: coordinating policy-making on domestic and international economic issues; coordinating economic policy advice to the president; ensuring that policy decisions and programs are consistent with the president’s economic goals; and monitoring the implementation of the president’s economic policies.
SBY is safe from impeachment, Kalla predicts
Former vice president Jusuf Kalla says that his former boss, President Susilo Bambang Yudhoyono, is relatively secure from impeachment.
"He is protected by the Constitution. As long as anyone does the right thing, they are secured," he told reporters after the declaration of the National Democrat mass organization in Jakarta on Monday.
Speculations about a possible impeachment on Yudhoyono are rife after the investigation on the Bank Century bailouit by an inquiry committe at the House of Representatives about to reach its finale.
The authority of the bailout was in the hands of Finance Minister Sri Mulyani and the then Bank Indonesia governor, Boediono, now vice president.
Mulyani and Boediono had said that the President knew about the bailout and also insisted that their policy was right for the country in the midst of the global crisis.
Speculations are also rife that the bailout fund might have been disbursed into the accounts of Yudhoyono's presidential campaign team members.
Yudhoyono and his Democratic Party have rejected the speculations and have also urged the case to be resolved as soon as possible.
"He is protected by the Constitution. As long as anyone does the right thing, they are secured," he told reporters after the declaration of the National Democrat mass organization in Jakarta on Monday.
Speculations about a possible impeachment on Yudhoyono are rife after the investigation on the Bank Century bailouit by an inquiry committe at the House of Representatives about to reach its finale.
The authority of the bailout was in the hands of Finance Minister Sri Mulyani and the then Bank Indonesia governor, Boediono, now vice president.
Mulyani and Boediono had said that the President knew about the bailout and also insisted that their policy was right for the country in the midst of the global crisis.
Speculations are also rife that the bailout fund might have been disbursed into the accounts of Yudhoyono's presidential campaign team members.
Yudhoyono and his Democratic Party have rejected the speculations and have also urged the case to be resolved as soon as possible.
Demonstrators demand KPK arrest lawyer for Bank Century bribery attempt
As many as 50 students and other youths grouped in the Young Indonesia Caucus demonstrated at the Corruption Eradication Commission (KPK) office in Jakarta Monday demanding the arrest of businessman Budi Sampoerna’s lawyer, Lukas, for attempted bribery of a police official.
Caucus spokesman Edy Chumaidy said that the Caucus could prove that Lucas had pledged to give Rp. 10 billion to now non-active National Police Detective Chief Comr.Gen. Susno Duaji for a letter facilitating the release of funds owned by PT. Lancar Sampoerna Bestari from the collapsed Bank Century.
He demanded that the Commission, as the spearhead of the nation’s fight against corruption, muster up the courage to use the ample evidence of attempted bribery to arrest Lukas as soon as possible.
Caucus spokesman Edy Chumaidy said that the Caucus could prove that Lucas had pledged to give Rp. 10 billion to now non-active National Police Detective Chief Comr.Gen. Susno Duaji for a letter facilitating the release of funds owned by PT. Lancar Sampoerna Bestari from the collapsed Bank Century.
He demanded that the Commission, as the spearhead of the nation’s fight against corruption, muster up the courage to use the ample evidence of attempted bribery to arrest Lukas as soon as possible.
Bank Century bailed out on the brink of crisis: Anggito
Fiscal Policy Agency head Anggito Abimanyu said Monday that Bank Century was bailed out to thwart an economic crisis.
Anggito said he used information from the agency’s early warning system to manage fiscal risks. The system consists of 17 main crisis indicators, including oil and gold prices and foreign exchange reserves.
“If we did not do anything in October [2008], we would have been experiencing a crisis,” he told a hearing at the House of Representatives' commission IX overseeing financial affairs, in Jakarta, as quoted by tempointeraktif.com.
Maruarar Sirait of the Indonesian Democratic Party of Struggle (PDI-P) disagreed with Anggito’s statement. “BI [the central bank) reported no crisis at all.”
Yet, Anggito refused to contradict his data with the central bank. “BI has a stress test for the banking sector; we have [the test] at a macro level.” (nkn)
Anggito said he used information from the agency’s early warning system to manage fiscal risks. The system consists of 17 main crisis indicators, including oil and gold prices and foreign exchange reserves.
“If we did not do anything in October [2008], we would have been experiencing a crisis,” he told a hearing at the House of Representatives' commission IX overseeing financial affairs, in Jakarta, as quoted by tempointeraktif.com.
Maruarar Sirait of the Indonesian Democratic Party of Struggle (PDI-P) disagreed with Anggito’s statement. “BI [the central bank) reported no crisis at all.”
Yet, Anggito refused to contradict his data with the central bank. “BI has a stress test for the banking sector; we have [the test] at a macro level.” (nkn)
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