BI Independence and Politics
The Consultative Committee of the House of Representatives has decided to postpone the election of Bank Indonesia's deputy governors. Golkar and the central bank, however, want it to go ahead forthwith, as scheduled. Could this be more 'politics'?
October 23, 2001
THE CENTRAL BANK is man's biggest discovery after fire and the wheel. You may disagree, but in a modern economy the central bank is the sole authority governing money in circulation and determining its value. Money is not only a legal tender, it plays the role of an economic stabilizer, a standard unit for goods and services and a practical repository for your assets. Market players want the president and the central bank to work together and ...