INDONESIA’S financial markets are in turmoil, largely due to the government’s own doing. A haphazard fiscal policy and the establishment of Daya Anagata Nusantara Investment Management Agency (Danantara) have triggered this upheaval.

Take the rupiah, for instance, which has depreciated by 4.6 percent over the past three months. Last Friday, the currency slid to Rp16,575 per United States dollar. This decline comes despite Indone