indonesia rupiah?

[vomer]

Does anyone in here recommend the purchase of these?

[King Bean]

Hmmmm. I hear Frxxx26 is patting himself on the back for recommending these as the "next big thing". Just look for the big, blue couch.

[sandyf]

Does anyone in here recommend the purchase of these?

 

Due to redenominate in Jan, good chance that you will have to go to Indonesia to exchange.

[ALBUNDY]

 

 

Minister: redenomination performed in stable economic conditions
 

 

 

 

 

Friday, March 22, 2013 00:17 PM 
 
 
Finance Minister Agus Martowardojo (ANTARA / Rosa Panggabean)
"... All should not misunderstand the redenomination. We are well aware, there are successful countries and no country is not in this case. "
 
Jakarta (ANTARA News) - Finance Minister Agus Martowardojo ensure simplification plan or nominal rupiah redenomination will be done when the national economy in a stable state.

"One of the keys is the redenomination in order to succeed must be stable and strong economy," he said in Jakarta on Thursday.

Agus said the current economic situation has not been sufficient to redenomination, because Indonesia is wary of the impact of the financial crisis in the United States and Europe, as well as the issue of energy subsidies that burden the state budget.

"We are aware of the global crisis, the issue of fuel subsidy and electricity are still not handled, we want to ensure all areas are at a healthy and good (first)," he said.

For now, Agus said the government together with the House of Representatives is considering the right time to discuss redenomination bill and discuss the technical implementation of related policies.

According to him, although the later discussion of the Act has been completed, the government is not necessarily directly apply the redenomination in Indonesia, because the public should fully understand about this plan.

"If the law of his own, the most ignored by the government and parliament is when it will start. And how long the transition will be done so that people are confident and do not misunderstand, this is not sanering.'s We will follow up with the House," he said.

Agus said that the transition from the use of the old currency to the new currency redenomination results is crucial, and governments aware of dissemination efforts should be effective to avoid confusion in the community.

"We have to take into account the tens of thousands of scattered islands and regions lagging behind, it all should not be misunderstood with redenomination. We are well aware, there are countries that succeed and there is no country in this regard," he said.

Agus said the redenomination process will have a positive impact on the accounting and reporting process transactions system, so that if successfully implemented, the national financial sector increasingly well preserved and credible.

"We must safeguard the financial system and maintain public confidence in the system, but we should not be pressured to do the plan when the public may not be ready," he said. (*)
 

 

 

THE LINK : http://www.antaranews.com/berita/364625/menkeu-redenominasi-dilakukan-dalam-kondisi-ekonomi-stabil

 

 

 

Kemenkeu the rural people understand redenominasi
 

 

 

Wednesday, February 6, 2013 23:05 PM
 

 
Treasury Directorate General Agus Kemenkeu Suprijanto (ANTARA)
Society in the country is much the pilgrimage, they already know how to use money riyals and dollars, in exchange for rupiah. So about redenominasi may already know, "

Jakarta (ANTARA News) - Director General of the National Treasury of the Ministry of Finance Agus Suprijanto say most rural communities will not be difficulties in understanding redenominasi term, as he was once in the local currency with the nominal fraction less.

"People in the village are already a lot of pilgrimage, they already know how to use money riyals and dollars, in exchange for rupiah. So about redenominasi may already know," he said in Jakarta on Wednesday.

Agus explained the current government has prepared a draft bill Redenominasi, which was in the national legislation program in 2013, and is awaiting debate schedule with Commission XI DPR RI.

"Not to be able to schedule, but in paripuna is set to be Anggaran 2013, we wait from the House of Representatives," tuturnya.

It ensures that after the discussion of this bill has been completed, the government will do to apply the policy to reduce the socialization digit menurangi currency without value.

"So our strategy to the House to debate the bill first. Question of enforcement of when, later heard in the discussion of the bill. Once everything is finalized, our new socialization," said Agus.

Previously, Finance Minister Agus Martowardojo says the breakdown of rupiah currently not efficient, so that simplification efforts digit currency amount or redenominasi to do.

For that, Agus explained currency price changes or redenominasi needed because it can increase the confidence in the rupiah, facilitate the payment system and reflects the credibility of parity with other developed countries.

"With redenominasi, the rupiah is more valuable and can be aligned with the currency of other countries. Currently Indonesian economic conditions show good progress, so conducive to the implementation redenominasi," said him.

It sure is different redenominasi sanering process that is cutting the money, because redenominasi the same nominal moderation on the price of goods and services, so that people's purchasing power has not changed.

"People expect to understand the difference redenominasi with sanering order to avoid misunderstandings and resistance in the community," said Agus.

According to him, the success of implementing redenominasi by eliminating three zeros in the price of goods and services, need strong support from the walks of life, committed to economic stability and the availability of legal basis and intensive education.
 


THE LINK: http://www.antaranews.com/berita/357002/kemenkeu-nilai-masyarakat-pedesaan-pahami-redenominasi

 

 

 

 

 

Jokowi: a Hollywood Movie will Be Shooting in Jakarta

 

25/04/2013 16:02:00

 

 

The city of Jakarta attracts the attention of a well-known film production house from Hollywood as a shooting location. In fact, Jakarta Governor Joko Widodo (Jokowi) has been contacted by Indonesian Ambassador for USA, Dino Patti Djalal, to make the action movie a success.

 

According to Jokowi, some time ago he suddenly received a call from Dino Patti Djalal who informed him that one of Hollywood’s movie production houses would like to make Jakarta as one of its shooting location. Jokowi welcomed the plan, because it could become a media of promotion for Jakarta.

 

“A film by top producer will shoot its scenes in Jakarta. Mr. Djalal told me that and also asked for my permission,” said Jokowi at the City Hall, Thursday (4/25).

 

The shooting locations would be in Banteng Court and several roads in the city. The shooting itself will commence in June. Unfortunately, Jokowi forgot the title of the film.

 

“It tells the story of a hunted fugitive who runs everywhere until to Jakarta. I forgot the title, but its genre is definitely action,” he told.

 

Aside from asking for permission, Jokowi added, he was also asked to help smoothing the shooting process, particularly in terms of security and traffic.

 

“This will be an opportunity for free promotion to Jakarta. Building a city’s brand is not from promotion only, but also can be through an international film,” he finished.

   THE LINK : http://www.beritajakarta.com/2008/en/newsview.aspx?idwil=0&id=27767

 

Edited April 26, 2013 by ALBUNDY

[sandyf]

The bill is due before parliament in the coming months, likely to see all sort of opinions coming out.

[ALBUNDY]

Coordinating Minister for the Economy (right) welcomes Executive Director of the World Bank, Sri Mulyani during her visit to jakarta (7/12)

 

 

 

 

KPK Questions Sri Mulyani in Washington

 

 

 

 

Thursday, 25 April, 2013 | 18:50 WIB

 

 

TEMPO.CO, Jakarta - The Corruption Eradication Commission questioned former Finance Minister Sri Mulyani Indrawati in Washington DC, USA, yesterday. The Executive Director of the World Bank was questioned about the disbursement of a short-term financing facility (FPJP) and the Bank Century bailout.

 

 

KPK spokesman Johan Budi said yesterday said the questioning will take place at the Indonesian Embassy. Johan said the commission three investigators arrived in Washington this week, to question her about the Rp6.7 trillion ($690 million) bailout.

 

 

Sri Mulyani was among several Indonesian officials who authorized the bailout of mid-sized bank, Bank Century, during the 2008 financial crisis. At that time, Sri was Finance Minister as well as Chair of the Financial Stability Committee.

 

 

The total fund disbursed to save the bank was much higher than what was deemed necessary to prevent its default. The bailout money was allegedly tapped off by well-connected shareholders.

 

 

The decision to examine Sri in the United States is to speed up investigation process. This was not KPK's first examination conducted abroad. Budi said that Sri's testimony would be used in the trial of Bank Indonesia's former deputy governor, Budi Mulya, who was named a suspect in the case last November

 

 

 

THE LINK : http://en.tempo.co/read/news/2013/04/25/056475856/KPK-Questions-Sri-Mulyani-in-Washington

 

 

 

 

 

Rupiah Stabilizing at 9,700

 

 

 

Thursday, 25 April, 2013 | 17:21 WIB

 

 

 

TEMPO.CO, Jakarta - The rupiah has been moving sideways in the past three days, edging up and down in the narrow range of Rp9,715 to Rp9,725 per US dollar. An array of negative sentiments from the global market, coupled with the trade balance deficit, has been keeping the rupiah stagnant at around Rp9,700 per US dollar. On Wednesday's trade, the rupiah edged up by 0.05 percent closing at Rp9,718 per US dollar.

 

 

Money market analyst Lindawati Susanto said that in general, the rupiah is still moving in a limited range. Albeit the improving global economy, the rupiah remains stagnant at Rp9,700 per dollar. "However, there are indications that the rupiah is beginning to stabilize at current levels," she said yesterday.

 

 

 

Fluctuating external sentiments and the increasing demand for US dollars in the domestic market is preventing the rupiah from appreciating. Towards the end of the month, dollar demand from corporates will increase as companies must pay their import duties. The demand is expected to reach its peak this weekend.

 

 

 

The rupiah is expected to strengthen at the beginning of the month following a decline in domestic dollar demand. However, there is still the threat of inflation that stems from the price adjustment of subsidized fuel.

Today, the rupiah is expected to move in the range of Rp9,690 to Rp9,720 per US dollar.

 

 

 

THE LINK : http://en.tempo.co/read/news/2013/04/25/056475819/Rupiah-Stabilizing-at-9700

 

 

 

 

 

Indonesia Can Lead the World

 

 

Indonesia’s transformation has been extraordinary, says Prime Minister David Cameron

 

12 April 2012, 14:01

 

UK Prime Minister David Cameron (REUTERS/Toby Melville)

 

 

 

VIVAnews - Indonesia is embarked on an extraordinary journey. In just over a decade you have begun a transformation that has taken my country and many others, several centuries forging an inspirational path from dictatorship to democracy.

On the streets where once there were barricades and market stalls, there are now shopping malls and superhighways. In a city where once you could not speak your concerns, today you can speak them, write them, publish them and even tweet them in the country where people now use twitter more intensively than in any other nation on the planet.

Where once the government denied human rights to its people, today it promotes them – and not just here but right across the region.

Together with this extraordinary political transformation has come an economic dynamism that has made this one of the fastest growing countries in the world with a leadership role to match, helping to steer the global economy at the G20.

It’s an economic dynamism that sums up why I am here today with the biggest and most high powered trade delegation Britain has ever brought to this region here to do business with you, creating jobs and growth for both our countries.

It’s an economic dynamism which in less than two decades is forecast to propel Indonesia into the top six economies in the world. Right now, this country – your country – is one of the most exciting and dynamic places on the planet.

You have made it that way. Saya salut dengan Anda

Bali

As you know, the journey has not always been easy. Just ten years ago Bali suffered one of the most horrific terrorist attacks in history.

202 people died including 38 Indonesians. People of 23 other nationalities were also killed, including 88 Australians and 28 Britons, one of them, Jonathan Ellwood, the brother of a Member of Parliament in my party.

And the memorial in London - with 202 carved doves - is just outside Downing Street. The attack on Bali was an attack on the world and it taught us just how the security of our countries is now so inevitably intertwined.

Because just like 9/11 in America and 7/7 in London, we were attacked by a group of people who wanted to set Islam at odds with the West and use a warped version of their religion to justify a campaign of hatred and violence.

They threatened the safety and security of us all. In the gravity of that fateful moment here in 2002, Indonesian resilience was tested.

And let’s be honest, some around the world even questioned whether Indonesia might face a bleak dead-end choice between extremism on the one hand and a return to dictatorship on the other whether to ensure stability in the face of this attack, Indonesia might turn the clock back.

And that is what makes what you are achieving all the more remarkable. Because what Indonesia is showing is that it is possible to develop a democracy and a modern economy that neither compromises people’s security nor their ability to practise their religion.

Indeed, far from endangering safety, prosperity and religious identity, it is democracy that ensures them. And this has huge implication for others seeking the same fundamental freedoms in places like Egypt, Iran and Syria.

The Path to Citizenship

So my thesis today is very simple. Indonesia’s transformation is not just vital to its own future prosperity and security.

If Indonesia can succeed, it can lead the world in showing how democracy can offer an alternative to the dead-end choice of dictatorship and extremism.

Because I believe - and Indonesia is showing - that the vital aspirations that we all share are rooted in democracy. And let’s be clear what we mean by democracy.

Not the single event of holding an election because elections on their own do not guarantee democracy - and can sometimes just lead to elected dictatorships.

As I have said consistently, it is about a broader process, the challenge of laying the foundations what I call the building blocks of democracy.

The independence of the judiciary and the rule of law; the rights of individuals, free media and association, a proper place in society for the army, strong political parties and civil society.

These things together make up a golden thread that can be found woven through successful countries and sustainable economies all over the world.

None of this can be achieved overnight. But if the task of laying these foundations can be completed successfully it will mean that each person enjoys the same freedoms, rights and responsibilities as citizens together.

Citizenship that means access to justice and the rule of law is available to all. Citizenship that means every individual has the same fair access to the services the state provides - irrespective of their background, religion, ethnicity or family ties.

And a citizenship that means everyone having a fair chance to play their part in shaping society – making their voices heard, building schools, businesses and civil society organisations.

These are powerful ideas. But wherever this vision of democracy and citizenship has been advanced it has encountered dangerous foes.

From Slavery in America to the Civil Rights Movement a century later. From Apartheid in South Africa to the situation in Syria today.

This fight for freedom, for the equal rights and responsibilities that should come with democracy and citizenship, has been one of the defining strands of history so we don’t just ask whether countries are getting richer but whether they are getting freer, fairer and more open too.

But there are four groups in particular who will do everything in their power to defeat us. First, there are those who believe that in advancing security, you need authoritarian leaders, because only an autocrat can keep you safe.

Second, there are the corrupt elites who want to hijack the system to win a bigger and bigger share of the cake on the basis of wealth or privilege, not equality for all citizens.

Third, there are the extremists – some of whom are violent – but all of whom want to impose a particular and very radical, extreme version of Islamism on society to the exclusion of all others.

And this total rejection of debate and democratic consent means they believe that democracy and Islam are incompatible.

And fourth, there are tribalists who want to exclude those who don’t share the right ethnic background or family group from having their stake in society – a job and a voice.

For democracy to succeed each of these opponents must be overcome wherever they are found across the world. And in each case I believe that Indonesia can help to lead the way.

In each case “Indonesia mampu memimpin dunia.” Let me take each in turn

Authoritarians

First, authoritarians. There are those who argue that if you want to maintain security and stability you have no choice but to accept an authoritarian leader.

They said it of Gaddafi, Mubarak and Ben-Ali but in each case the Arab Spring has shown that denying people their rights in the name of stability and security actually makes countries less stable in the end.

Over time, the pressure builds up until the people take to the streets and demand their freedoms. So where cries for reform are being resisted and the people are being repressed – just as they are today in Syria - we must oppose the authoritarian.

Because the longer Assad stays the more dangerous things become for his people and the greater the likelihood of a bloody civil war. Where reform is beginning, like in Burma, we must get behind it.

So let’s pay tribute to those who have for decades and at huge personal cost to themselves fought for that freedom and reform. Not least, of course, the inspirational Aung San Suu Kyi.

Let’s pay tribute also to the leadership of President Thein Sein and his government which has been prepared to release political prisoners, hold by-elections and legalise political parties that had previously been outlawed.

And let’s show that when they have the courage to reform we have the courage to respond. And when the foundations of reform have been laid, like here in Indonesia, we must build democracy until it is fully established and unassailable.

That is what you are doing. Under the leadership of President Yudhoyono, Indonesia now has a proud record of democracy in South East Asia and is helping to support reform in Burma.

The troubles of East Timor are over and the military is playing its proper role, defending the country from external attack.

That is a powerful signal to the world. The elections in 2014 will be another opportunity to show the strength of Indonesia’s democracy.

And the responsibility will be for whoever wins those elections to continue to resist any calls to return to the old ways of the past and ensure that political and parliamentary institutions deliver the reforms expected by those who elect them.

For by showing the world the alternative to authoritarianism, “Indonesia mampu memimpin dunia.”

Corrupt elites

Second, corrupt elites. Corruption threatens democracy and citizenship both economically and politically. It impedes the working of the market, stifling competition so contracts are won not by the strongest bid but the strongest vested interests.

It means citizens are denied equal access to education and healthcare or a fair chance to get a licence to start up a business or get a new road built in their local community. Corruption denies the people their economic and political stake – the citizenship, the job and the voice that they want.

Worse still, it breeds a cynicism and a sense of rage. Instead of being seen as a force for good, politics is used to abuse ordinary people and prioritise the needs of the privileged few at their expense.

So if you are in a road accident with a powerful family, there is no fair way to contest the case in court. For Mohammed Bouazizi, the Tunisian fruit-seller, it was corrupt bureaucracy which denied him the right to sell his fruit where he needed to that stopped him earning a living and led him to take his own life.

In these ways corruption is not just economically damaging, but corrosive to the very bonds that hold a country together.

So how do we fight it?

Here in Indonesia, President Yudhoyono is right to insist there can be “no compromise in fighting corruption.” That recognition is a sign that Indonesia is determined to tackle this. And you are making important progress.

The Corruption Eradication Commission may have its critics but it has brought to book an impressive array of wrongdoers and your media highlights the issue relentlessly. In Britain, we have introduced a Bribery Act – so that companies which accept corrupt payments while operating abroad will be prosecuted at home.

And we have resourced the Metropolitan Police to make sure that stolen assets are returned to developing countries. In our aid spending we’ve made it clear that aid can not be linked to commercial contracts or commercial advantage for British companies.

We’re ensuring real transparency and accountability over the way aid money is spent. So any NGO that receives funding from the UK is going to have to publish what they do, where they get their money and where it goes.

This will enable people in the developed and developing world to ensure their money gets to those who need it most. Next we will apply this principle to recipient governments too.

And we will increasingly use aid to fund anti-corruption measures like corruption commissions and stronger parliamentary democracy and to demand that recipient countries make measurable advances against corruption in return for our aid.

Because in the end, rooting out corruption will make more difference in tackling poverty than decades of aid spending focused purely on its symptoms.

So we are keen to work with you in every way we can to help tackle corruption through bi-lateral co-operation but also through global co-operation with our shared leadership of the G20 working group on corruption. In taking on and defeating the scourge of corruption “Indonesia mampu memimpin dunia.”

Extremists

Third, the extremists who oppose democracy. Let me be absolutely clear: I am not talking about Islam. Islam is a religion observed peacefully and devoutly by over a billion people.

And let me also be clear, extremism is not only found among Muslims. But there is a problem across the globe with Islamist extremism which is a political ideology supported by a minority.

Extremists – some of whom are violent – and all of whom want to impose a particular and very radical, extreme version of Islamism on society to the exclusion of all others. And this total rejection of debate and democratic consent means they believe that democracy and Islam are incompatible.

From Afghanistan to Iraq and from Bali to London, we have seen all too often that this extremism feeds prejudice, persecution and dreadful acts of terror and violence. These extremists try to turn Islam into a closed and warped ideology that is opposed to democracy.

What Indonesia shows is that in the world’s largest Muslim-majority country, it is possible to reject this extremist threat and prove that democracy and Islam can flourish alongside each other.

That’s why what you are doing here is so important, because it gives heart to those around the world who are engaged in the same struggle.

Indeed, Indonesia’s discrete and sensitive response to Egypt’s request for assistance in its own transition shows just how important your journey is.

Because in Egypt, it is vitally important to ensure that the democratic success of the Muslim Brotherhood’s party strengthens democracy and does not in the end undermine it.

The choice of the Egyptian people must be respected and we must all be ready to work with the government that the Egyptian people elect but at the same time we will demand that in pursuing their political views the elected government are not denying the rights of citizenship to those who do not share their specific religious views.

So the world will expect them to live up to the commitments they have made to protect the rule of law for all citizens to defend the rights of the Coptic Christians and minority groups and to accept that democracy means they will be held accountable in the courts and that they should not pervert the democratic process to hold onto power should the will of the people change.

Here in Indonesia too, you have enshrined the rights of all individuals in your constitution. This reflects the vital importance standing up against the despicable violence and persecution of minorities – whether Christians, Ahmadis or others.

And ensuring that people have the right to live their lives and practise their religion in the way they see fit.

In doing so “Indonesia mampu memimpin dunia.”

Tribalists

Finally, the tribalists, who threaten democracy by discriminating against people on the basis of their background, race, ethnicity or religion. Sometimes this means social discrimination, where people are denied the best education, job opportunities, housing or public services.

Other times it breaks out into destructive acts of violence or even full scale and destructive conflict. My own country has seen how poisonous this way of thinking can be.

We have suffered many decades of conflict in Northern Ireland and we’ve seen the terrible ethnic violence in Bosnia, Kosovo and the wider Balkans.

In the Democratic Republic of the Congo, Indonesian forces are serving in the UN mission to keep the peace and stabilise the country in the wake of an ethnic conflict which has cost millions lives.

For a country like Indonesia with its incredible diversity, protecting the rights of citizens from ethnic discrimination is vitally important. So we applaud the steps Indonesia continues to take to guard against ethnic discrimination and conflict, especially in Aceh.

You are, of course, all rightly proud of which part of Indonesia you are from but at the same time you can be equally proud of the democracy that gives all Indonesians the same status under the rule of law.

Once again, it is through commitment to genuine democracy and the rejection of tribalism, that “Indonesia mampu memimpin dunia.”

Conclusion

Indonesia’s transformation has been extraordinary. But the painstaking work of building democracy is not yet finished. By rejecting authoritarianism, continuing your work to tackle corruption and rejecting the forces of tribalism and extremism Indonesia can complete its journey.

The people of Indonesia can show through democracy there is an alternative to dictatorship and extremism. That here in the country with the biggest Muslim population on the planet, religion and democracy need not be in conflict.

And that following your example young Muslims across the world will be inspired to choose democracy as their future. That will be the greatest defeat that Al Qaeda or Jemaah Islamiya could ever suffer.

And that is the prize within your grasp. The prize for Indonesia and the prize for the world. The future is in your hands. I am confident that you can seize the moment. And that “Indonesia mampu memimpin dunia.”
 

This article is the speech of the UK Prime Minister Mr. David Cameron before the Indonesian students and academicians at Al Azhar University in Jakarta, 12 April 2012. The publication of this article has been permitted by the British Embassy in Jakarta

Photos by: REUTERS/Adi Weda/Pool

 

 

THE LINK : http://us.en.news.viva.co.id/news/read/303903-indonesia-can-lead-the-world

Edited April 26, 2013 by ALBUNDY

[keepmwlknfny]

No.....dont buy it.....they plan.on.dropping zeros just like Iraq....

[dontlop]

its all going to be dollars in the future, it will be the last currency standing after the currency war is over .

 

everything else is just pumpers like cnbc.

[Nadita]

I doubt it. The biggest currency is Rp.100,000 = US$11.25 and the country is stable in their own way

[make11]

Indonesia government have very clearly informed that they plan to just remove the three zeros from the notes, but value will be as before (100 000 rupiah is now about 10 usd, later NEW NOTE 100 rupiah will be about 10 usd  - just take the zeros out). The local people talk even now about something costing 100 or 50 leaving the thousands away (100 000/50 000). There is no RV coming there 100%. However, the economy is growing very well, so organically the currency may increase over the years, but this is not a get rich quick currency.

[ALBUNDY]

 

 

 

Step awaits Governor of New Strategic BI
 

 

 

 

Saturday, March 30, 2013 | 20:30

 

 Finance Minister Agus Martowardojo. (Source: JG Photo)

 

 

JAKARTA - Agus Martowardojo Commission XI of the House of Representatives have been as Governor of Bank Indonesia (BI) in the period from 2013 to 2018 on Tuesday (26/3) night.

In the midst of the worsening global financial market conditions would be a tough task for Agus Martowardojo. The economic crisis in the Eurozone countries that there is no certainty when the end will continue to haunt the economy of the world, including Indonesia.

Among financial market participants looked forward to the new leadership of the central bank to keep the exchange rate stable. Suppression of dollars assessed to trigger the release of funds from the foreign investors to invest in domestic portfolios such as stocks and bonds. Foreign investors would prefer to attract investment funds to prevent losses.

Agus Marto election is also expected to give a new feel and atmosphere at the Central Bank. Agus Martowardojo background who is also a banker is expected to provide a new perspective on the future.

The three main priorities are expected among financial actors who actually experienced BI governor, namely maintaining macroeconomic stability by guarding inflation, giving a boost to economic growth, and maintain the exchange rate.

Other homework, Agus is also expected to issue a monetary policy that pro-SME, and put forward the most important national interests.

Economist at Bank Mandiri, said Destry Damayanti outside the main task, the central bank governor also faced with some other work such as, simplification or currency redenomination, bias against low interest rates, the issue of reciprocal banking, as well as maintain the independence of government and parliament BI.

"Maintaining stability and the exchange rate is a 'homework' for the central bank governor given the turmoil in the financial markets will continue to happen," he said.

He added that central bank governor also must take a firm decision that Bank Indonesia is not intervened by external parties.

Meanwhile, President Director of PT Bank Central Asia Tbk, John Setiaatmadja expects more bank governor can strengthen the foundation for the entire financial industry.

"On the micro level, the details will be later to the Financial Services Authority (FSA). Whereas BI macro prudential, meaning how to keep our monetary and inflation remain stable, because it is important as a foundation for the banking industry," he said.

He added, maintaining monetary stability and inflation is very important for macroeconomic and is one tough task. However, Setiaatmaja believes Martowardojo able to keep the financial industry continues to grow.

"We expect BI plumb role in terms of maintaining monetary stability and also keep inflation in Indonesia do not get too high. If not controlled either macro ekonmomi very disturbing," he said.

Keeping Inflation and Inflation Stability Rupiah became one of the current. Although inflation is not a problem solely BI tasks, but the central bank is expected to be more proactive in overcoming it.

Bank money market watchers Civil Society, Ruly Nova said in his presentation when the fit and proper test (fit and proper test) Governor of BI, Agus argues controlling inflation became the main focus of the central bank.

By Ruly, efforts to control inflation is a chore for Agus is quite heavy. Central Statistics Agency (BPS) in February 2013 reached 0.75 percent, the highest inflation rate ever happened in the last 10 months.

"However, to keep the Government inflation also contribute. One of them made a balance between exports and imports that do not make the trade deficit widened," he said.

"The high demand for foreign currency makes imports increased. Finally, the rupiah to depreciate. Higher the depreciation of the rupiah, the higher inflation as well," said Ruly added.

Ruly expected inflation in March 2013 will still be high. Garlic-red price will still be the driving force of inflation and will affect the chili and other basic needs. Exports are still down will add to the negative sentiment towards inflation.

"BI must perform synergistic action with other agencies in order to keep inflation and the exchange rate," he said.

In BETWEEN records, in 2012 the rupiah came under pressure by 8.12 percent from Rp8.930 per U.S. dollar on January 2, 2012 to Rp9.655 per U.S. dollar on December 28, 2012.

Meanwhile, this year the rupiah weakened about 0.90 percent to Rp9.715 per U.S. dollar on March 28, 2013 from Rp9.628 per U.S. dollar at 2 anuari 2013.

Strengthen Cooperation Chairman of Financial Services Authority (FSA) Hadad Hadad has hope for the Governor of Bank Indonesia to be able to work with the FSA this year is to function as a watchdog of financial services industry.

"BI and FSA was necessary cooperation, especially on the situation not only normal but in situations of distress (emergency). So, should be able to build better cooperation," he said.

The importance of the criteria for the FSA, Hadad said, because of the implementation in the field, BI and FSA found many overlapping issues.

"I'm sure we all agree that the activities of the financial system, which was held on a regular basis, fair, transparent, and accountable to implement the national economy is able to grow in a sustainable and stable," said Hadad.

Chairman of the National Commercial Banks (the Banks) Sigit Pramono said central bank governor and the Minister of Finance, Chairman of the FSA and the Chairman of the Deposit Insurance Agency (LPS) is responsible for maintaining the stability of the financial system through the Coordination Forum for Financial Stability (FKSSK).

According to him, it is important because the forum taking decisions particularly in situations of crisis and no longer politically disputed.

"Communication should be strengthened, and also with the association. We would like it if there are problems associated with banking or willing to issue a policy, the central bank also invites us, as a transition period in a few months will be submitted to the FSA," he said.

All hope, Agus Martowardojo as the new central bank governor can add new strength to the Indonesian economy in the future. (Ant / tk)

 

 

 

THE LINK : http://www.investor.co.id/home/menanti-langkah-strategis-gubernur-baru-bi/57750

[ALBUNDY]

 

 

 

Implementation Redenominasi Rupiah 10 Years After
 

 

 

 

 

Friday, February 22, 2013 | 19:34

 

 

 Deputy Governor of Bank Indonesia Halim Alam. Photo: Ist


 
BANJARMASIN - Deputy Governor of Bank Indonesia Halim Alam said the government program of rupiah redenomination is expected to be forthcoming in the next seven to ten years because a lot of preparation to be done.

According to Halim after handover Head Office of Bank Indonesia Borneo in Banjarmasin Region II on Friday, when the government is preparing legislation that would become the basis of the implementation of the redenomination.

"We are at the stage of preparing new legislation is expected to be completed in 2013 as well," he said.

Furthermore, he added, if there are legal grounds, necessary concrete measures related to the implementation of the preparation, and then be disseminated.

At the socialization stage, he said, the government also can not necessarily implement the program, which also takes quite a long adjustment.

"So the redenomination program is simply not reported, it took long enough to prepare a variety of tools to make it happen," he said.

In fact, he said, the implementation of the new program can be realized well in seven to ten years from now.

Redenomination is to cut the number of zero nominal currency in particular for some reason. One reason is because of the number of zeros in it is a lot of money.

For example, the zero dollars that have a lot going diredenominasi. Rupiah redenomination could cut the number of zeros in the money, such as money Rp 1,000 after diredenominasi will be USD 1. So using money USD 1 at a time after the redenomination will have value for Rp 1,000 before the redenomination.

As reported in the mass media, the government program to cut the number of zeros on the rupiah, among others, to the efficiency of the calculation.

In addition, also for psychological reasons, namely with a zero then the rupiah will look more beautiful, almost on par with other countries.

Currently, the rupiah has digit number that is too much, thus causing inefficiency for data input, data base management, data reporting and data storage.

In the application of information technology, the use of too many digits that can lead to waste in preparing the financial statements and accounting as well as in memory usage.

Also, it can lead to complexity in the calculation of economic transactions that could potentially lead to mistakes and take longer. (Investor Daily / tk / ant)

 

 

 

THE LINK : http://www.investor.co.id/home/bi-pelaksanaan-redonominasi-rupiah-10-tahun-lagi/55377

 

 

 

 

 

 

 

 

Redenomination Not Time
 

 

 

 

Tuesday, January 29, 2013 | 11:12

 

Officers smoothed center cash pile of money in the bank building BNI, Jakarta, recently. Photo: Investor Daily / DAVID GITA ROZA



Rain should be a blessing, as well as the rupiah redenomination this January starting penahapannya socialized plan. However, if not timely and network governance has not built well, good thing it can actually bring disaster.

Redenomination or simplification rupiah currency will be done by reducing the three-digit or three zeros behind. Rp 1,000 current money will be equal in value to USD 1 new currency, without reducing their purchasing power. Actually, a number of cafes in shopping malls to mobile phone credit vendor has implemented the "redenomination". They simplify the calculation by writing slashed three zeros behind.

In addition to simplifying the calculation, a number of reasons expressed by officials of Bank Indonesia (BI) and the government. That said, this policy can also increase the dignity of the nation. In Southeast Asia, only Indonesia and Vietnam that have fractional currency up to five digits, ie USD 100,000 and 100,000 dong. Paper money of 10,000 Singapore dollars maximum.

Indonesia's central bank and the government are now entering the stage of public consultation in the policy. Bill (the Bill) has entered Prolegnas Redenomination and discussed in the Parliament this year. If approved, starting in 2014 raised new currency redenomination results, so there are two currencies in circulation. After that, slowly up to 2017 or 2019, and the currency redenomination was long dollars "disappeared" from the public.

However, we have learned that there are successful countries implement redenomination and often tend to fail. Turkey's success in the story, which meredenominasi lira currency by removing six zeros gradually over seven years, since 2005. After the redenomination, the old Turkish currency (TL coded) converted into new lira YTL coded, with Y means "Jenny" or new. The conversion rate is 1 YTL to TL 1,000,000.

Meredenominasi Turkish lira with respect to stability in the country. That is why, during this stage, the economy maintained steady and annual inflation at 8-9%. Meanwhile, Russia, Argentina, Zimbabwe, and North Korea failed to redenomination, because the time is not right. In addition to an unstable economy and high inflation, low confidence in the government. In Russia, redenomination even considered as an indirect instrument of government to rob the people's wealth.

Brazil also had failed to redenomination in 1986-1989. Failure because the government is not able to manage inflation reached 500% per year, the low confidence in the government, and the erosion of business certainty. However, Brazil finally managed to apply the redenomination in 1994. Combination of a more stable political conditions, decline in inflation, foreign capital inflows, and increasing foreign exchange reserves to be key to success.

What about Indonesia? There is concern redenomination make soaring prices due to rounding prices. Many people also worry redenomination with sanering, or withholding money traumatic Old Order now cut the value of Rp 1,000 to Rp 1 1965. This sanering impoverish, because it reduces the purchasing power of money on goods and services. Therefore, the government and the central bank should focus on providing information to the public, to ensure residents in remote areas also understand the policy correctly. Redenomination benefits must be understood clearly.

In addition to more simple financial transactions, we will not need to carry cash in your wallet is too thick. There is also pride to call U.S. $ 1 equal to Rp 9.6, from the current Rp 9,600. However, redenomination should only be done after the parliamentary and presidential elections, to be held April 9th ​​and July 9th, 2014. The bill is better addressed by BI and the government and parliament election results. Because the political climate will heat up until 2014, which could lead to economic shocks, sosialpolitik, and security.

The possibility of a change of government also change the direction of policy risk, including in the economic and business aspects. The political noise and uncertainty could disrupt the implementation of the redenomination, or even cause public panic. This delay also dismissed rumors of a certain scenario for winning the 2014 elections. Because the policy of printing new currency redenomination mean massive, with the delivery or distribution of the money that is only known for sure by BI and the government.

Distribution is a relatively new money can not be controlled by anyone outside the circle of power. It is certainly much more difficult than controlling the distribution of fuel oil (BBM) subsidy visible, which until now continues smuggled and abused. If forced redenomination scenario remain to be done in 2013 - 2014, the stronger the impression that certain political parties need cash to win elections. Their present cash again there was an impression at the central bank.

So, redenomination is not the right time. Not just like autumn fruit is wasted before it matures, a forced redenomination would create a national catastrophic flooding. (*)

 

 

 

THE LINK : http://www.investor.co.id/home/redenominasi-belum-saatnya/53441#Scene_1

 

 

 

 

 

 

Immediately Terminated plan Redenomination
 

 

 

 

Tuesday, January 29, 2013 | 9:18

 

  Committee chairman Dr Rizal Ramli Rising Indonesia. Photo: Investor Daily / Tino Oktaviano

 

 

JAKARTA-Former Minister of Economy Rizal Ramli asked Bank Indonesia (BI) and the government to stop plans redenomination policy as it is considered minimal benefit and harm society.

"We demand that the government stop the BI and the redenomination policy that there is no urgency, no benefit, and harm the purchasing power of the people of Indonesia," said Rizal as a Public Hearing with the House of Representatives Commission XI, in Jakarta, Monday (28/1).

According to Rizal, the government claims that the redenomination has benefited very much and is not the same as "cutting" of money (sanering), is not supported by clear arguments and empirical about the benefits of redenomination.

"For ordinary people, redenomination is a new term that is confusing. In practice, the term is almost equal to the effort to cut the money," said Rizal.

He says, issuing a new currency whose value is equal to R1 1,000 today, the practice is "inflationary force" (force inflation).

"The purchasing power of the lower middle class will be cut off by the rising prices after the new currency issued," he said.

Rizal pointed out, for example, for a packet of peanuts worth Rp800 this time, later the new money will be adjusted to the price of new R1, which means the same thing it means raising the price of Rp200 currency now.

"Inflation imposed" is what will happen after the simultaneous application of redenomination, "he said. (Ant / HRB)

 

 

 

 

THE LINK : http://www.investor.co.id/home/rencana-redenominasi-segera-dihentikan/53422#Scene_1

 

 

 

 

 

 

 

Redenomination Just an Illusion
 

 

 

 

Sunday, January 27, 2013 | 5:48

 

 Officers set up a pile rupiah in money BRI warehouse in Jakarta, recently. Photo: Investor Daily / DAVID GITA ROZA


 

YOGYAKARTA-redenomination or simplification of the currency is just an illusion made by the monetary banking without any substance at all, according to an economist from the University of Muhammadiyah Yogyakarta ruf Ahmad.

"Redenomination policy made by the government and Bank Indonesia (BI) the only activities that are 'lip service'. So, instead of substantive policy," he said in Yogyakarta on Saturday.

According to him, the redenomination more manly attributes alone make it look like in other countries. The policy actually cover the weaknesses that are the responsibility of the central bank.

"To cover the BI issued kebijakakan weakness that seems good. Though there is no substance at all," said the lecturer at the Faculty of Economics, University of Muhammadiyah Yogyakarta (UMY) it.

So, he said, no substance. Community may feel happy with that policy because the money initially see 10,000 to Rp10.

"People will be proud because like other countries but it's just false pride pride. Novel We can be proud that our exchange rate was good, but it is still not good," he said.

So, according to him, people have to be smart in criticizing it. BI also have to focus more on the problems facing the nation today.

"BI is better focused on controlling inflation and improving the exchange rate. Focuses on managing the monetary system of banking or banking crimes using the instrument, and that that should be the focus of BI," he said.

He said the nation's current problems such as imbalance of development, exchange rate, and inflation is still above five percent. Income countries should focus on "real income".

"This is important because the community needs is the ability to produce, not the ability to buy as is the case today. Powerlessness that is supposed to be the focus country for repair," he said. (Ant / HRB)

 

 

 

 

THE LINK : http://www.investor.co.id/home/redenominasi-hanya-sebuah-ilusi/53274

Elimination of Three Digit Zero Redenomination Not Final
 

 

 

 

Thursday, January 24, 2013 | 4:10

 

 Nasution. PHOTO: AFP



JAKARTA-simplification or redenomination of the currency that eliminates the three-digit number zero is still not final, said Governor of Bank Indonesia Nasution.

"It's still a public consultation, not socialization, depending on the community, if the community wants a four digit zero, yes we can," he said here on the sidelines of the Kick Off Public Consultation, Redenomination not sanering, here on Wednesday.

Change it, according to him, did not rule because other countries like Turkey have imposed a six digit zero redenomination.

He said the implementation of the redenomination in Indonesia will take at least six to 12 years since Indonesia has vast areas with the most diverse population.

"At least six to 12 years, the entire process until the new money out, where in the process the public must believe that it takes time, if you rush, people will instead worry," he said.

He said the variety of risks that need to be anticipated in the implementation of such redenomination potential price increases due to rounding up prices excessively.

"These risks can be anticipated by the Act that expressly regulate the practice of rounding up prices, along with monitoring and enforcement action against fraudulent behavior is detrimental to the community," Nasution said.

Other risks that may arise, according to him, a rejection due to misunderstanding of some people against redenomination policy. Risks that can be prevented with intensive communication and socialization are well on the whole society.

Adding that a transition period for the redenomination, the trader will be required to include the price of goods and services in the rupiah old and new rupiah (dual price tagging) to facilitate the public in the transaction.

Until now, the bill has been submitted redenomination bill to Parliament as a government initiative and will soon be discussed in the National Legislation Program (Legislation) 2013. (* / HRB)

 

 

 

 

THE LINK : http://www.investor.co.id/home/penghapusan-tiga-digit-nol-redenominasi-belum-final/53148#Scene_1

 

 

 

 

 

 

 

 

Tend Parliament Approves Election After Redenomination
 

 

 

 

 

Sunday, February 17, 2013 | 20:04

 

 

 

 Tellers count sheets dollars in Bank ICB Bumiputera, Jakarta, Tuesday (29/1). Photo: Investor Daily / DAVID GITA ROZA



BATAM - House of Representatives approved the reduction tends to be zero in rupiah or redenomination done after the 2014 election. "Lawmakers likely to be redenominated the new government. Done now if strong political impression," said Vice Chairman of Commission XI of the House of Representatives Harry Azhar Azis in Batam on Sunday.

If started now, it is feared that the program used for the benefit of a particular political party. Moreover, economists suspect redenomination used to print money for the purposes of some parties in the 2014 election.

However, if it is done the new government, the redenomination will run cleaner than many suspicion. He started on redenomination into account the new government, which in January 2015, then the mass preparation for two years ie up to August 17, 2017. And in the third year of printing new money. Then the mass transition of old and new money throughout the two years.

"By 2019 the new money comes into force, the new government again," said a member of parliament's constituency Riau Islands.

Harry said, in the drafting of the redenomination, the government must take into account three things: the increase in inflation in the lower classes, the public perception and speculators.

Redenomination, he said, could trigger inflation, especially in the lower classes. For example, at present there is still a price of Rp 900 items. When redenomination it will be rounded to Rp 1,000 to zero then it dumped to Rp 1.

"It will be also fractional cents, but still rounding up. Mungin for society to not be too pronounced. But for the lower classes felt," he said.

In addition, the government must also consider the public perception is concerned with changes in currency values.

According to him, many people who have money in the bank tend to exchange rupiah to dollars or take it to buy something that is considered more stable value. "The possibility of transferring the money in another form," he said.

If many are taking their money in the bank, there will be a rush. "It is more dangerous, the bank could collapse," he said.

And lastly, he added, should pmerintah mngantisipasi the speculators who play the redenomination which could cause the value of the rupiah dropped.

"Sanctions for speculators to be mentioned in the bill," said the Golkar Party politician. (Investor Daily / tk / ant)

 

 

 

 

THE LINK : http://www.investor.co.id/home/dpr-cenderung-setujui-redenominasi-usai-pemilu/54890

 

 

 

 

 

 

 

 

 

Rupiah Gains Following Morning Plans Increase in Fuel
 

 

 

 

Wednesday, May 1, 2013 | 9:59

 

 Tellers count the rupiah banknotes at a bank in Jakarta obstruction. Photo: Investor daily / DAVID GITA ROZA


 

JAKARTA-The rupiah exchange rate against the U.S. dollar moved higher on Wednesday morning slightly by two points following a government decision to raise fuel oil (BBM) subsidy.

Exchange rate of rupiah in Jakarta interbank traded on Wednesday morning (1/5) to move up by two points to Rp9.718 compared to the previous position Rp9.720 per U.S. dollar.

"The increase in fuel subsidies that will make Indonesia's trade deficit so that the impact on the exchange rate will be positive," said the Head of Research at Trust Securities, Reza Priyambada in Jakarta on Wednesday.

He added that from the internal side of the other, especially from export-import data reports and inflation by the central statistics agency (BPS) estimated stabilized or within expectations.

"Market participants are still waiting on the rate of export growth is expected to improve," he said.

Nevertheless, he continued, the rupiah is still overshadowed by external negative sentiment of German retail sales drop below estimates, although on the other hand there is an increase in consumer confidence.

"Moreover, the sentiment was exacerbated by the data rate of unemployment increased euro area countries," he said.

Bank money market watchers Civil Society, Nova Ruly adding the exchange rate movement is still moving horizontally, it is in line with Bank Indonesia are still keeping the domestic currency.

"Babysitting BI that makes the exchange rate will move horizontally," he told Reuters.

He said he would dinaikannya fuel subsidies would make the domestic exchange rate rose, the condition was due to Indonesia's trade deficit is expected to decline later. (* / HRB)

 

 

 

 

THE LINK : http://www.investor.co.id/moneyandbanking/rupiah-pagi-menguat-menyusul-rencana-kenaikan-bbm/59999

 

 

 

 

 

 

Bankers Positive Economic Growth in 2013
 

 

 

 

 

Tuesday, April 30, 2013 | 10:29

 

 PricewaterhouseCoopers (PwC)



JAKARTA-The bankers in Indonesia generally felt positively with economic growth in 2013 despite global uncertainty factors, refer to the four-year survey of banks conducted by Price Waterhouse Coopers (PwC) Indonesia.

"As many as 87 percent of respondents anticipate a steady growth with inflation at a moderate level," said Chairman of PwC Indonesia Jusuf Wibisana exposure time survey results in Jakarta, Tuesday (30/4).

Jusuf said, last year's survey shows optimism in unum on Indonesian banking industry amid stable domestic expansion and signs of U.S. economic recovery.

But it turns out the global crisis has not diminished in 2012 and European economies are depressed have become major concerns in the global markets.

"In this year's survey, about 90 percent of bankers said that they may reach or exceed their budgets in 2012 amid the global economic situation is fragile and difficult," said Jusuf.

Meanwhile, 93 percent of respondents have seen no improvement in economic conditions in Indonesia within the last three years.

"The development of the financial system continues to run on a more efficient and reliable seen as a major component in sustaining economic growth," Joseph said as quoted by Antara.

Yusuf added that the survey results are in accordance with Indonesian PwC PwC's Annual Global CEO Survey, where the CEOs of global companies identified Indonesia as one of the 10 countries with the highest growth.

"In publications PwC World in 2050 (The World in 2050), estimated that the Indonesian economy in terms of purchasing power can be larger than Germany, France, or England in 2050," said Joseph.

However, in the middle of Indonesia's macroeconomic prospects are good, banking penetration is still low. Indonesia's middle class growth and population size are still not affordable by the bank can be a driver of growth.

"The growth and development. Healthier banking industry to improve the strength and toughness in general is important to support the sustainable growth of the Indonesian economy," he said.

 

 

 

 

 

THE LINK : http://www.investor.co.id/moneyandbanking/bankir-positif-dengan-pertumbuhan-ekonomi-2013/59908#Scene_1

 

 

 

 

 

 

 

 

 

RBS Optimistic Economic growth in Indonesia 6.5%
 

 

 

 

Thursday, April 18, 2013 | 20:24

 

 Illustration of poverty and economic growth. (Source: JG Photo / Yudhi Sukma Wijaya)




JAKARTA - Royal Bank of Scotland (RBS) is still optimistic that Indonesia's economic growth by 6.5 percent, despite the international monetary funds (IMF) revised its global growth from 3.5 percent to 3.2 percent.

"We continue to hold 6.5 percent of Indonesia's economic projections for investment is still high," said Vice President of Non-Japan Asia Economics Research, RBS, Enrico Tanuwidjaja in Jakarta on Thursday.

Moreover, according to him, before the general elections in 2014, investment activity in both the bond market and the stock market will tend to increase. "Most of the investment elections ascending, so that will sustain the economy," he said.

He added that the higher infrastructure spending and an increase in minimum wage will be a key factor in this growth and the most rapid impact on the third quarter of 2013.

"The growth will be slightly higher than the previous quarter due to the flow of payments to the state budget likely accelerated development needs," said Enrico.

He also said the increase in domestic consumption is also still the backbone of the economy of Indonesia. In addition, there are other things that will make the Indonesian economy is growing export recovery in the second half.

He considered the improved export performance in the second half of this year due to improvement of the U.S. economy although in Europe still running slow recovery.

He explained what the United States government with either the fiscal cliff and reduce unemployment at least give effect to the recovery of the economy so that the economy of Asian countries also improved.

"Momentum is what must be used in Asian countries including Indonesia in improving export performance," he said.

He expects Indonesia's main export sectors such as coal, palm oil and petroleum have opportunities for price increases in the second half of this year. (Investor Daily / tk / ant)

 

 

 

 

THE LINK : http://www.investor.co.id/home/rbs-optimistis-pertumbuhan-ekonomi-indonesia-65/59136#Scene_1