The Steep Road Ahead
Tuesday, October 21, 2008
Standing together, the government and Bank Indonesia are issuing policies to dampen the effects of the global financial crisis. The panic has started to subside but the Indonesia Stock Exchange index continues to weaken and the rupiah is still reeling.
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FOREIGN currency reserves of US$1 trillion couldn’t guarantee that Japan would escape the global financial crisis. The stock exchange in the Land of the Rising Sun became really topsy-turvy as a result of the crisis. Investors panicked and what followed was a real horror show. The Nikkei share index dropped by 11.4 percent on Wednesday last week. This was its largest drop since 1987.
Since the beginning of October this year up until the end o
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