{
    "success": true,
    "data": {
        "id": 1747730,
        "msgid": "sby-and-prabowos-stances-under-scrutiny-as-rupiah-slumps-1779546444",
        "date": "2026-05-19 06:19:00",
        "title": "SBY and Prabowo's Stances Under Scrutiny as Rupiah Slumps",
        "author": "",
        "source": "VIVA",
        "tags": "bisnis",
        "topic": "Economy",
        "summary": "The Rupiah closes lower at Rp 17,668 per US dollar on 18 May 2026, drawing comparisons between Prabowo Subianto's assurances and former President Susilo Bambang Yudhoyono's cautions in 2013. Prabowo argues domestic life remains insulated from the currency's weakness, while SBY warned of global volatility and pressed for prudent policy responses. The piece highlights differing approaches to economic volatility from the current and former presidents and the ongoing concern over currency movements.",
        "content": "<p>Jakarta \u2014 The Rupiah closed trading on Monday, 18 May 2026, at Rp\n17,668 per US dollar, weakening from Rp 17,597 per dollar\npreviously.<\/p>\n<p>President Prabowo Subianto\u2019s comments compared with the response of\nformer President Susilo Bambang Yudhoyono (SBY) when the Rupiah weakened\nin 2013. According to the head of state, the currency\u2019s weakness has not\nhad an immediate direct impact on the majority of people, particularly\nvillagers who do not transact in US dollars in daily life.<\/p>\n<p>\u2018Now there are people constantly\u2026 I don\u2019t understand, sometimes\nIndonesia will collapse, will be chaotic, will be what, Rupiah like\nthis, dollar like this,\u2019 Prabowo said during the inauguration of the\nMuseum of Ibu Marsinah and a Shelter House in Nganjuk, Saturday, 16 May\n2026.<\/p>\n<p>The head of state also said that rural people do not use Rupiah.\nTherefore, he assured that Indonesia is in a good state. \u2018People in\nvillages do not use dollars, right, food is safe, energy is safe, many\ncountries panic, Indonesia is still okay,\u2019 he said.<\/p>\n<p>The remarks contrast with the stance once shown by SBY when the\nRupiah weakened in 2013. At that time, the Rupiah moved from around Rp\n11,600 to Rp 11,700 per US dollar.<\/p>\n<p>In his speech on 27 November 2013, SBY urged all parties to guard\nagainst the adverse effects of global economic volatility. He regarded\nthe Rupiah\u2019s weakness as a serious signal to be faced realistically.\n\u2018The bad news is the Rupiah is weakening,\u2019 SBY said at the time. He also\nnoted that Indonesia might be entering a \u2018new equilibrium\u2019 in the\nnational economy.<\/p>\n<p>The 6th President of Indonesia acknowledged that several economic\nindicators were under pressure, from falling stock prices to a trade\ndeficit. \u2018I think we will have a new equilibrium, a new normal,\u2019 he\nexplained.<\/p>\n<p>He said the government at that time had already prepared a number of\npolicies to cut imports and boost exports through various fiscal\nincentives and economic measures. \u2018The conclusion from our economy and\nthe world\u2019s situation is that Indonesia\u2019s economy this year and next\nyear will not be easy. I\u2019d rather speak candidly than spout forecasts of\nparadise,\u2019 said SBY.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/sby-and-prabowos-stances-under-scrutiny-as-rupiah-slumps-1779546444",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}