More transparency needed

More transparency needed

It is understandable that we should feel annoyed at the
slanted information circulated abroad regarding Indonesia's
foreign debts. As former coordinating minister for economy and
industry Radius Prawiro has said, inaccurate information could
easily affect the government's current normalization program.

How can we best counter such misleading information and
rumors? Transparency, or openness, is a most effective tool for
eliminating any negative impacts of such misinformation.
Transparency ensures that the public will have a solid base in
evaluating information.

We hope the government will better enforce the requirement for
debtors to report their offshore loans. By doing so, Bank
Indonesia will have a better overall picture regarding the
foreign loans acquired by private businesses. It will also have a
better idea of how the funds are used.

Many people object to this stricter enforcement of the
obligation. Nevertheless, for the sake of national interest, it
is a necessary measure.

-- Bisnis Indonesia, Jakarta