Strengthening the rupiah

We welcome the President's instruction for finance minister Bambang Sudibyo to take the necessary steps and evaluate once again the possible effects that the declining value of the rupiah could have on the state budget. Such measures could at least help us to anticipate further falls in the rupiah's value against the U.S. dollar.

In view of the shortage of foreign exchange reserves, however, the monetary authority should take care that any intervention be done at the right moment -- which is when market sentiment is improving. It is for the governor of Bank Indonesia and the minister of finance to determine the timing.

It is time that business starts cooperating with the monetary authority so that our efforts can be successful and growth can reach the level of 5 percent, as the President hopes. Let us stop suspecting each and every official policy and instead help to strengthen the government's credibility in the eyes of the world.

-- Bisnis Indonesia, Jakarta