Indonesia Safe from Turkey, Argentina Crises, Says Bank Indonesia

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Petir Garda Bhwana

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  • TEMPO.CO, JakartaBank Indonesia (BI) assures that Indonesia’s financial system will be safe from the global economic slowdown and moreover, the systemic economic crises currently hitting Turkey and Argentina.

    This was voiced by BI deputy governor Dody Budi Waluyo who claims Indonesia’s financial system is within safe parameters based on the simulation conducted by the Financial System Stability Committee (KSSK).

    “[We] are safe and we constantly hold simulations and meet in the KSSK forums. We also observe global effects on exchange rates, interest rates against the financial system stability,” said Dody on Friday, March 29.

    Read also: Bank Indonesia Develops Halal Economy Ecosystem

    He maintains that this condition is strengthened by the country’s financial records on the state capital, return on equity (ROE), and return on assets (ROA), financial services institutions, up to deposit guarantor.

    In general, the central bank sees the Turkey and Argentina economic crises added with economic slowdown in Europe, the United States, and the issue of Brexit does affect the global financial market that has depreciated rupiah by 0.5 percent in the past week, however, rupiah is still strengthening by 0.9 percent based on investor’s sentiments that maintain to be positive.

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