Tue, 22 Aug 2000

Listen to the market

President Abdurrahman Wahid, this time, is in no hurry to announce his new Cabinet. He has listened to Vice President Megawati Soekarnoputri, who advised him to select his ministers carefully so as to prevent change midway. We agree that forming the new Cabinet must be done with patience and care, not only because it must consist of personalities who are capable and are able to work as a team, but because it must also have ministers who are trusted by the market.

Market confidence, indeed, is one of the qualities that was not considered in the formation of the current Cabinet. President Abdurrahman Wahid often acted without even considering the reactions of the market. Now, however, the President has come to recognize that market confidence is a factor of decisive importance in our efforts to overcome the economic crisis.

Winning the market's confidence has, thus, become the most important factor in forming the new Cabinet. What are the main requirements to achieve this? Among other things, the market only trusts those ministers whose reputation is known, especially their reputation with regard to the management of assets. The market only trusts Cabinet ministers who keep their promises, who are true to their word and who are willing to take risks and are not afraid of losing their jobs. For those reasons, we would suggest that President Abdurrahman Wahid consider reappointing Kwik Kian Gie, if the market trusts him.

-- Media Indonesia, Jakarta