Concrete measures awaited<\/p>\n
People are now waiting for concrete measures to be taken by
\nthe government, as promised by Finance Minister Mar'ie Muhammad
\nafter his recent \"road show\" to the United States. The
\nfulfillment of this promise is of the greatest strategic
\nimportance amid our efforts to surmount the worsening crisis
\nwhich is now affecting the exchange rate of the rupiah against
\nthe U.S. dollar.<\/p>\n
The crisis of confidence which is now affecting the rupiah has
\nits cause mainly in psychological and other noneconomic factors.
\nAs a consequence, the present fluctuations in the rate of the
\nrupiah do not reflect the actual conditions that exist. A shift
\nin value of more than 100 percent in so short a span (less than
\none month) can no longer be considered rational. Then, too, all
\nkinds of rumors whose origins are uncertain have actually been
\nable to shape a public opinion that has helped to aggravate the
\ndrop in the value of our national currency.<\/p>\n
Finance Minister Mar'ie Muhammad should take concrete,
\ntransparent and calculated measures which must be implemented in
\na consistent manner. Monetary authorities must give their full
\nattention to any capital outflows by, among other things,
\ninitiating a \"one door\" policy for all offshore commercial
\nborrowing, both private and governmental. Any transfers of local
\nfunds to foreign countries should also be punctually monitored by
\nthe central bank in order to detect any capital flight to
\nSingapore or other countries.<\/p>\n
Obviously, what the public is now waiting for is concrete
\nmeasures -- not merely lip service or clichd promises that could
\nboomerang against the government amid the present erosion of
\npublic confidence. For the government, on the other hand, there
\nis no reason to be ashamed to rectify old policies that are now
\nrecognized as being wrong. If necessary, the government might
\neven apologize to the public for those mistakes.<\/p>\n
In this way the public might develop a feeling of goodwill
\ntoward the government, and in the longer run this might nurture a
\ngreater feeling of confidence toward those who are now managing
\nthis country.<\/p>\n
-- Bisnis Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/concrete-measures-awaited-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }