Jakarta-Indonesia, the Minister of Finance (Finance Minister) Agus Martowardojo said, of all the effects that make it to Indonesia, the most feared is the lack of attention and support of financial institutions of the Asia region. "Many financial institutions have a portfolio in Europe and they need to consolidate, conduct banking restructuring. Maybe (it) could reduce their role in the world, including in Asia, "said Agus in the Parliament Building, Jakarta, yesterday.
Potential reduction in the attention of financial institutions that make Agus Marto called on all parties to prepare themselves to face the crisis. Indonesia should be able to overcome the crisis turmoil that began to emerge, particularly with regard to the money market. For the record, the deteriorating crisis in Europe also affected the movement of the exchange rate and stock index in the Indonesia Stock Exchange (BEI). Last week, for example, the rupiah weakened sharply enough to reach the level Rp9.550 per U.S. dollar (U.S.).
European governments wary of the impact of the crisis on the economy of Indonesia. Impact of the crisis could get to Indonesia through trade, financial or investor confidence.
"We must keep the condition as it did two weeks of this, namely the existence of flare-ups that will be no impact on financial markets and later to the capital markets," he added. Furthermore, Agus explained Indonesia has had a number of devices to ward off a crisis that impacts are not expected to be too large. The device is a crisis management protocol, a healthy debt ratio, a strong domestic economy, as well as sound fiscal policy. Former Managing Director of Bank Mandiri is revealed, the European crisis could also affect the trade.
However, because Indonesia is not very dependent on the export so that the effect is not too large. About the weakening rupiah, Agus Marto rupiah would be difficult to see return to previous position within dekat.Namun, the weakening rupiah should be opportunities to increase exports so that starting April trade balance deficit could be slightly reduced. For the record, the trade balance recorded a deficit in April 2012 for USD641, 1 million.
The deficit is caused not berimbangnya between the rate of exports and imports. Central Bureau of Statistics (BPS) showed the value of exports in April 2012 reached USD15, 98 billion, while imports melampauiUSD16, 62 billion. "The weakened yen is good to keep our exporters remain competitive and have a desire to reduce the import of goods that are not priorities," he said.
Special meeting involving the United States (U.S.), Japan, Germany, France, Britain, Italy, and Canada on Tuesday (5/6) the time Washington was mentioned before the talks will set the framework of the G-20 summit to be held in Mexico last week third of this month. Yesterday, the majority of positive moves Asian stocks led the Nikkei closed up 1.04% to a level of 8382 points.
This is a pretty good rebound after the previous day dropped to its lowest level in 28 years. In China, Hang Seng index also rose 0.4%, Kospi (Seoul, South Korea) rose 1.05% and Straits Times gained 0.5%.
Acting (Acting) Head of the Fiscal Policy Office (BKF) Ministry of Finance Bambang PS Brodjonegoro warned that the trade balance began harmful to the balance of payments deficit. It also can not predict when the export slowdown is over. "If you can not quickly recover balance, current account deficits could," he said. Meanwhile, after trading sharply lower on Monday (4/6), stock index trading yesterday on the successful U-turn toward positive territory. Jakarta Composite Index rose 63.29 points, or 1.73% and closed at 3717.876.
PT Panin Securities analyst Purwoko Sartono said, pushed the stock composite index rose because the area is also engaged in the green zone. JCI also supported the motion investors buying stocks following conditions which have had excellent phase oversold. Asian stocks rebounded yesterday on hopes ahead of the policy makers of the seven industrialized nations (G-7) to reduce the European crisis.
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