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Behind the Pressure on the Rupiah

Tuesday, January 7, 2014

The Government is beginning to get concerned about the rupiah's weakness. Overreaction by continually raising interest rates may in fact kill economic growth and trigger a recession.

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THE meeting on December 16, 2013, was organized by Minister of Defense Purnomo Yusgiantoro. It was he who contacted top business leaders, asking them to attend this special meeting requested by President Susilo Bambang Yudhoyono. "Pak Purnomo told them this was to be a top secret meeting, limited only to invitees. We were told to be there at 6:30pm, to have dinner while waiting for the president, who was scheduled to arrive at 7:00pm," said Tempo's

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