Market Pulse: Dressing Up for Hot Money
When the political climate heats up, there will be movements of hot money that impact the fate of all Indonesians. These do not come from the illegal fruits of crime, however. Hot money is a term used in financial markets for short-term investment funds that can quickly move around in search of the most profitable investment.
Indonesia is highly dependent on these inflows of hot money. One of the…
I swear to God, swear to God," said Setya Novanto when he was asked if it was true there was Rp150 billion for the Golkar Party's coffers from money embezzled out of the e-KTP (electronic ID cards) in 2011. Without denying or confirming it, he held up his index and middle fingers to form a 'victory' sign.
Setya Novanto demonstrated this oath to Tempo editors when he visited this magazine's office on Wednesday last week, a day before the prosecution read the criminal charges filed in the massive corruption case surrounding the e-KTP project at the Jakarta Corruption Court.