Monday, November 17, 2008
Mulyani on Indonesia’s financial crisis
“We don’t want people to not trust our efforts to safeguard the currency and the economy”
Euromoney: The rupiah has been the hardest-hit currency in the region over the last month or so, and the central bank has announced further capital controls as a way to try and support it. What role do you see for the ministry of finance in these efforts?Mulyani: We’re all aware that the global situation is difficult; we’re not dealing with a normal situation here. We have to protect the interests of the economy and Indonesia in general, but I don’t support the idea that countries should fend for themselves. As a country we’re quite susceptible to the exposure on the currency that you’re talking about – we are looking at all possible policies. At the moment capital is tending to flow from developing countries back to the US, and in this situation any country can face...
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