Wanted: BI-Government Teamwork
It is hoped that BI's policy of limiting foreign currency transactions will reduce speculation and stabilize the rupiah. It also marks the start of cooperation between the central bank and the government.
January 23, 2001
Apart from the issue of Bank Indonesia liquidity support (BLBI), the big problem and non-stop headache for the monetary authority, is the rupiah exchange rate. A few months ago—before being detained by the Attorney General—Bank Indonesia (BI) Governor Syahril Sabirin said that the monetary authority couldn't do much to stabilize the rupiah exchange rate because it was beyond the scope of the central bank. Miranda Goeltom said the same
...