People powerless under currency crisis<\/p>\n
JAKARTA (JP): The plunge in the rupiah value and skyrocketing
\ninterest rates are hurting the lives of many people and hindering
\nbusiness activities.<\/p>\n
The Jakarta Post interviewed people from different walks of
\nlife on how they have been affected, and how they are coping.<\/p>\n
Poppy Dharsono, a fashion designer, businesswoman and chair of
\nthe Association of Indonesian Garment and Accessories Suppliers:<\/p>\n
Presently, it seems like there is no appreciation of the
\nrupiah, like we are being invaded in our own country. We are
\ncharged in dollars, but our customers pay in rupiah.<\/p>\n
As a supplier, the crisis is hurting my business. I don't know
\nthe solution because I am not an expert. I only hope that the
\ngovernment and Bank Indonesia will do something.<\/p>\n
I fear that many workers, especially those working in the
\ntextile and garment industry, will lose their jobs unless
\nsomething happens soon. I've heard that even now, many people are
\nlosing their jobs.<\/p>\n
Mira Sumantri, a housewife living in Kemang, South Jakarta:<\/p>\n
The currency crisis is affecting my family's life.<\/p>\n
I have two sons studying in the United States. Their tuition
\nfees and living expenses have soared by four times. Of course,
\nthis is hard for me and my husband.<\/p>\n
Fortunately, my eldest son has been accepted as a paid intern
\nin a company, so he can save some money.<\/p>\n
Because of the crisis, I'm now thinking of returning to work,
\nprobably joining my husband in running his PR company. I have a
\ndegree in communications which I have never used. I think I can
\nhelp find more clients.<\/p>\n
I cannot just sit around at home doing nothing. At least I can
\nearn money by joining the company, or other marketing and
\ncommunication firms. I cannot abandon my sons abroad.<\/p>\n
The crisis also forced me to cancel my plan to take a business
\ncourse in Singapore. The most important thing now is to help my
\nsons continue their studies. I do not want them to quit now, not
\never. I believe this is a temporary crisis and the condition will
\nreturn to normal again.<\/p>\n
Gusti, financial director of a major distributor: It's been
\ntough, especially when everything started happening about six
\nweeks ago.<\/p>\n
We wanted to withdraw about Rp 3 billion from one private
\nbank, but their manager called and said he was unable to process
\nit. So we met and discussed it. What else could we do? Luckily,
\nwe keep deposits in different banks. Eventually, we could
\nwithdraw those funds.<\/p>\n
Personally, I was worried at first because my salary is in
\nrupiah. But our company gave some employees raises. My salary
\nwent up 60 percent to compensate.<\/p>\n
Herman Tjahja (a pseudonym), a 28-year-old private bank
\nemployee: I have had to postpone my wedding. This crisis has
\ndashed my hopes of buying a house in Bekasi.<\/p>\n
My fiance and I were planning to buy a house in Bekasi after
\nour wedding, but the soaring interest rates made the house
\nprohibitively expensive.<\/p>\n
My salary is small and it does not look like I will get a pay
\nrise. What can I do? I can't get married and live under a
\nbridge.<\/p>\n
Before the crisis, I was told that I could make a monthly
\npayment of Rp 1.6 million with 21 percent interest. But since the
\ninterest rate doubled to 40 percent two months ago, I would now
\nhave to pay Rp 2.8 million a month.<\/p>\n
That is crazy. I could not possible afford it now.<\/p>\n
Fortunately, my future bride understood after I explained the
\nsituation. She was naturally upset in the beginning. She is still
\nyoung and she accepted that she would have to wait a little while
\nlonger.<\/p>\n
We have to be realistic and wait for another chance to buy a
\nhouse when the monetary situation improves.<\/p>\n
Marcus, customer relations manager at a foreign bank:<\/p>\n
I think our customers are taking a wait-and-see stance,
\nwaiting for what will happen with the IMF. Of course, they are
\nworried, but the current rupiah exchange rate is still
\nmanageable. We really haven't had many customers withdrawing
\ntheir funds. Other than that, I don't want to say anything. This
\nis a very sensitive issue. And don't use my real name.<\/p>\n
Tommy Kurniadi, president director of Hardy Amies Indonesia:<\/p>\n
The currency crisis has given me a headache. It seems to me
\nthat the rupiah is no longer considered legal tender in its own
\ncountry, as many people are asking us to pay in dollar.<\/p>\n
On the other hand, both our income and our workers' salaries
\nare in rupiah, not dollars.<\/p>\n
If this situation goes on, I am afraid that many workers will
\nlose their jobs because employers cannot afford the high
\nproduction costs and paying their wages at the same time.<\/p>\n
Gito Rollies, a rock singer: Thank God, I'm not affected by
\nthe crisis. Maybe this is because the crisis is not my concern
\nand money is not my life goal.<\/p>\n
The crisis does not affect me because I receive payments in
\nrupiah. But, once again, salary is not my primary concern.<\/p>\n
So far, we've been managing okay with our daily expenses and
\nwe have nothing to complain about. But then again, we're not as
\nworldly as we were before.<\/p>\n
But I hope the crisis won't go on for too long. It's a pity if
\npoor people have to suffer because prices of basic necessities
\nhave increased.<\/p>\n
If the crisis continues, we will also have to be more thrifty
\nwith our expenses.<\/p>\n
Actually, I am ashamed that our country keep relying on
\nforeign aid. I think the aid is only needed by certain people.<\/p>\n
Adi M.S., composer and conductor of Twilite Orchestra: My
\nprofessional life has been affected by the crisis.<\/p>\n
I used to go to Melbourne to record my music, but I have to be
\nmore realistic now because the trip costs me 40 percent more than
\nit used to. So, I've had to compromise the quality of my
\nrecordings because of the crisis.<\/p>\n
My family was prepared for the crisis. We were suspicious of
\nthe rapid increase in the prices of many goods. Now, we have to
\nthink twice before spending our money on leisure activities.<\/p>\n
I'm concerned by the crisis because I can't do anything about
\nit. I can only watch what is going on and follow the situation on
\nthe Internet.<\/p>\n
I think the crisis is partly caused by our bad habits, such as
\ncorruption and collusion practices, not to mention the
\ngovernment's discriminatory policy in favor of a particular
\ngroup.<\/p>\n
Theresia, a housewife living in Bekasi: The rise in prices is
\nterrible, but I consider the crisis to be a blessing in disguise.<\/p>\n
This has forced us to tighten our belts. From now on, I insist
\nmy husband account for every rupiah he spends. We have got to
\nlive within our means.<\/p>\n
We are not cutting back on our expenditures, but we will
\neconomize. For example, I won't take a taxi except in an
\nemergency.<\/p>\n
I understand that gasoline prices will increase soon. When
\nthat happens, I will suggest to my husband that he sell his car,
\nand wait until the economy improves before buying a new one.<\/p>\n
Suyatno, a civil servant: The currency woes have not really
\naffected me because I have several plots of land.<\/p>\n
Price hikes have affected me a little, because I'm not an
\nextravagant person. I like to live modestly, including in terms
\nof what I eat and wear. I don't even have a credit card.<\/p>\n
If the economic crisis worsens and begins to burn me, I will
\nsell one of my plots of land.<\/p>\n
My wife is not fond of shopping, either. Her biggest spending
\nof the year is during the Idul Fitri holiday.<\/p>\n
Most of my salary goes toward the schooling of my four
\nchildren. I don't consider this payment to be a big problem
\nbecause most parents face the same thing. (team)<\/p>",
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