Politics must not interfere BI<\/p>\n
Perhaps Mr. Kwik Kian Gie's Will Indonesia adopt a fixed-rate
\nsystem? (June 16, 1999), would do well to consult the Internet
\nweb page of Bank Indonesia. There he will find information
\nregarding the recently adopted banking acts and laws, and in
\nparticular discussion of act 23\/1999 concerning BI's
\nindependence. He may be surprised to learn that Bank Indonesia
\nnow has sole responsibility for the value of the rupiah and
\nimplementation of monetary policy. There is no mention of the IMF
\nor any other parties.<\/p>\n
This enormously important step means Indonesia has joined
\nother successful economies in granting its central bank
\nindependence from politicians. Indeed, it is noted in a press
\nrelease from Bank Indonesia, also published on its web page that,
\n\"... experience in the past has shown that BI's lack of full
\nauthority in the execution of its tasks... can prove fatal to
\nthe achievements of its goals\".<\/p>\n
Unless he intends to resign his post in the PDI Perjuangan and
\nseek that of Governor of Bank Indonesia, a position not available
\nfor some time, Mr. Kwik Kian Gie should spend his valuable time
\non important political matters, and leave the currency to Bank
\nIndonesia.<\/p>\n
SEBASTIAN SHARP<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/politics-must-not-interfere-bi-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }