IMF vs CBS<\/p>\n
In exact science, 2+2=4 and no one will argue about its
\ncorrectness. But we cannot say the same thing about economics. It
\nis said economics is a dismal science and that it is actually
\ncommon knowledge made difficult. Let us take, for example, the
\ncurrency board system (CBS), which presented to Indonesia by a
\nprofessor of Johns Hopkins University. His theory was
\nsuccessfully applied to, among others, Argentina and Estonia when
\nthose countries experienced a monetary crisis.<\/p>\n
However, according to local newspapers, there are economists
\nin Indonesia who emphasized that such a system is not applicable
\nto Indonesia, or that major reforms in other sectors must be
\nimplemented. And, to date, the debate about this system is still
\nraging without any end in sight, even though eight months have
\nalready elapsed, and it is time that the people's confidence be
\nrestored.<\/p>\n
The IMF has threatened to postpone channeling the promised
\nUS$43 billion in aid if the CBS is implemented, despite the fact
\nthat Prof. Hanke is a respected American scholar. If among the
\nprominent citizens of Uncle Sam's country such a fundamental
\ndifference of opinion exists, what of Indonesia's public, which
\nis anxiously waiting whether the CBS is implemented?<\/p>\n
The Bisnis Indonesia daily, March 6, published a report that
\nEuropean Union spokesman Derek Fatchett stated that his side does
\nnot approve of the CBS. He said that first and foremost, the 50-
\npoint letter of intent as suggested by IMF must first be
\nimplemented before the CBS. The more I read about the CBS, the
\nmore confused I become. And as the saying goes: So many men, so
\nmany minds.<\/p>\n
A. DJUANA<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/imf-vs-cbs-1447899208", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }