A collective effort to end the crisis<\/p>\n
Even though a reform plan has been announced by the President,
\nthe market has failed to respond in a positive manner. Rather,
\nits reaction has been negative.<\/p>\n
The value of the rupiah has continued to decline, falling to a
\nlow of more than Rp 8,000 per U.S. dollar Wednesday (and
\nplummeting to Rp 10,000 yesterday).<\/p>\n
The composite index at the Jakarta Stock Exchange also
\ndropped. What could be wrong (with the budget) in the eyes of
\nmarket players?<\/p>\n
It is suspected that certain parties abroad are seeking to
\nbenefit from the crisis in Indonesia. Under present circumstances
\nit would not be too difficult to manipulate the rupiah's exchange
\nrate. That rate is then published by wire agencies and used as a
\nguide by players in this country.<\/p>\n
To restore confidence in the rupiah it might be a good idea to
\nfollow the example of other countries such as Thailand and South
\nKorea.<\/p>\n
In Thailand, for example, a show of solidarity, called the
\nThai Chuay Thai campaign, has been set in motion. People
\nvoluntarily donate gold and foreign currency to the movement. For
\neach US$50 donated, people receive a token inscribed with the
\nwords Savior of the Nation. In South Korea a similar campaign has
\nbeen organized.<\/p>\n
Would it be necessary, or possible, to start such a campaign
\nin Indonesia?<\/p>\n
Necessary, yes. However, it is not certain whether such a
\ncampaign here would be successful. After all, President
\nSoeharto's call on our big business leaders and capital owners to
\nbring their dollars home from abroad has had no impact.<\/p>\n
The same goes for the team led by Radius Prawiro.<\/p>\n
-- Bisnis Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/a-collective-effort-to-end-the-crisis-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }