Wooing capital back<\/p>\n
There is obviously a need for Indonesia and Singapore to
\ncooperate. Aside from the fact that for the smooth flow of trade
\nwe are to a considerable degree dependent on Singapore, there is
\nthe reality that many of our billionaires are keeping their money
\nin Singapore.<\/p>\n
Capital flight is one of the reasons why the rupiah has
\ndrastically fallen in value and our economy has been thrown into
\na devastating crisis. Now it is said that capital owners abroad
\nare trying to persuade the government to give them special
\ntreatment, such as by giving them tax pardons, in return for
\ntheir bringing back their money to Indonesia.<\/p>\n
This obviously poses a dilemma for President Abdurrahman
\nWahid's administration. On the one hand, the money is needed to
\nrevive the Indonesian economy. On the other, granting tax pardons
\ncould invite negative reactions from people who demand fairness.<\/p>\n
We therefore urge Abdurrahman to be careful in drafting his
\npolicies. We do support his diplomatic alacrity because it is
\nneeded. We do need breakthroughs to get us out of the isolation
\nof the past couple of years. Internally, however, we also need to
\nrebuild a strong spirit of national solidarity.<\/p>\n
-- Bisnis Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/wooing-capital-back-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }