Agus Martowardojo: Current Financial System Better Than in 1998
22 May 2018 11:00 WIB
TEMPO.CO, Jakarta - Bank Indonesia Governor Agus Martowardojo considers the current state of the financial system is better than in the crisis period of 1998.
“Our condition is good now and no need to worry about," said Agus at the Ministry of Finance, Jakarta, Monday night, May 21.
Agus ensures the foundation of the financial system is stronger than 20 years ago. One of them is marked by adequate foreign exchange reserves to reach US$124.86 billion in April 2018.
In addition, the current banking condition is maintained, as seen from the capital adequacy ratio (CAR) in the range of 22 percent and non-performing loans (NPLs) below 3 percent.
The strengthening of the banking system, said Agus, is supported by the Deposit Insurance Agency (LPS) which has the duty to guarantee the customers’ savings funds.
"So, in general, Indonesia's economic indicator shows that it is still good compared to the condition in 10 or 20 years ago," he said.
Associated with the depreciation of the rupiah that had approached the level of 14,200s on Monday, Bank Indonesia governor Agus Martowardojo said it was caused by the positive sentiment of the improved economy in the United States.
ANTARA
