ID :
22963
Mon, 10/06/2008 - 21:41
Auther :
Shortlink :
https://www.oananews.org//node/22963
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PRESIDENT HOLDS EXTENDED CABINET MEETING ON US FINANCIAL CRISIS
Jakarta, Oct 6 (ANTARA) - President Susilo Bambang Yudhoyono held an extended plenary cabinet meeting on Monday to discuss efforts the country must make to face the monetary crisis in the United States.
The meeting was attended by all cabinet ministers and figures from the mass media as well as business world such as MS Hidayat of the Indonesian Chamber of Commerce and Industry (Kadin), economists, and Harry Tanoesudibyo a businessman.
Since the number of participants was much larger than usual, the meeting was held at the State Secretariat's main meeting room which could accommodate more than one hundred people.
Accompanied by Vice President Jusuf Kalla, President Yudhoyono opened the cabinet plenary session at 2 pm on Monday afternoon.
On Sunday, Coordinating Minister for Economic Affairs/Finance Minister Sri Mulyani Indrawati held a coordination meeting with Bank Indonesia (central bank) officials and related ministers to discuss the financial crisis in the United States and its possible impact on Indonesia.
On the occasion, Sri Mulyani called on the people to remain calm because the government would continue to make all possible efforts to overcome the possible impact of the global economic crisis on Indonesia.
Earlier, Bank Indonesia (BI) Governor Boediono had said the economic crisis in the United States would certainly affect Indonesia but its impact would not be as big as that in the 1997/98 crisis.
"The situation in 1997/98 was different. The conditions of banks at the time were different from now while the epicenter of the present crisis is not here but in the US," Boediono said.
He said banking indicators such as the capital adequacy ratio (CAR) that had reached 16 percent until August 2008, the non-performing loans ratio of 3.9 percent and the credit growth rate of 36 percent would be used as a means in dealing with the crisis.
Sri Mulyani therefore appealed to the mass media to be careful in reporting the conditions of financial institutions in the Indonesia. "Please do not make a headline out of rumors. Recheck all information so that the stories to be published really reflect the real situation ," she said.
She said news that did not reflect the real situation would cause the economy to pay a very high cost unnecessarily.
The meeting was attended by all cabinet ministers and figures from the mass media as well as business world such as MS Hidayat of the Indonesian Chamber of Commerce and Industry (Kadin), economists, and Harry Tanoesudibyo a businessman.
Since the number of participants was much larger than usual, the meeting was held at the State Secretariat's main meeting room which could accommodate more than one hundred people.
Accompanied by Vice President Jusuf Kalla, President Yudhoyono opened the cabinet plenary session at 2 pm on Monday afternoon.
On Sunday, Coordinating Minister for Economic Affairs/Finance Minister Sri Mulyani Indrawati held a coordination meeting with Bank Indonesia (central bank) officials and related ministers to discuss the financial crisis in the United States and its possible impact on Indonesia.
On the occasion, Sri Mulyani called on the people to remain calm because the government would continue to make all possible efforts to overcome the possible impact of the global economic crisis on Indonesia.
Earlier, Bank Indonesia (BI) Governor Boediono had said the economic crisis in the United States would certainly affect Indonesia but its impact would not be as big as that in the 1997/98 crisis.
"The situation in 1997/98 was different. The conditions of banks at the time were different from now while the epicenter of the present crisis is not here but in the US," Boediono said.
He said banking indicators such as the capital adequacy ratio (CAR) that had reached 16 percent until August 2008, the non-performing loans ratio of 3.9 percent and the credit growth rate of 36 percent would be used as a means in dealing with the crisis.
Sri Mulyani therefore appealed to the mass media to be careful in reporting the conditions of financial institutions in the Indonesia. "Please do not make a headline out of rumors. Recheck all information so that the stories to be published really reflect the real situation ," she said.
She said news that did not reflect the real situation would cause the economy to pay a very high cost unnecessarily.
