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Take this to the Bank

Bank Indonesia Urges Calm in the Face of Economic Fluctuations


Bali News: Indonesia, Bank Indonesia, Indonesian economy, economic crisis, Agus Martowardojo, Agus Marto
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(9/9/2013)

Detik.com quotes the governor of Bank Indonesia, Agus Martowardojo as discounting dire predictions that Indonesia is about to repeat the economic crisis it experienced in 1997/1998.

 
Calling for calm, Martowardojo eschewed predictions of dire economic straits ahead, insisting economic conditions and the marketplace are vastly different from those in place in 1998, particularly as regards the money market.
 
Martowardojo said: “I wish to inform, don’t compare the crisis that happened in 1997 and 1998 with what is happening now.”
 
Agus Marto explained that in 1998 the Indonesian banking system was very weak, Also, at that time, he said many companies managed their money poorly with unhealthy games played by many shareholders.

“Now all is healthy,” insisted the head of Bank Indonesia.
 
Agus Marto said all countries cannot escape the effects of the changing world economy. Nonetheless, Indonesia is coordinating both with Bank Indonesia and the money authorities
 
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