The sweet dream of PPN

The sweet dream of PPN

The issuance of the perpetual promissory notes (PPNs) as a solution to Bank Indonesia's liquidity support (BLBI) problem has raised controversy. Why? Due to its unclear rules of the game for one.

What is worse is that the issuance of PPNs, which is an agreement between the central bank and the government, was approved by the International Monetary Fund (IMF), making the cash repayment of the BLBI merely a dream that will be remembered by the next generation.

It is high time that bankers worked hard and stopped waiting for money to drop out of the sky.

-- Bisnis Indonesia, Jakarta