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INDONESIAN GOVT URGED TO EASE TIGHT MONETARY POLICY.
BANDAR LAMPUNG, Southern Sumatra, Sept 3 Asia Pulse - The chairman of the Indonesian Chamber of Commerce and Industry (KADIN), Aburizal Bakrie, has urged the government to ease tight monetary policy to boost the real sector, which has stagnated as a result of the economic crisis.
"There is no need to maintain the tight money policy now and the government must give more room for the real sector to grow," he said at the weekend.
The government should make efforts to improve the country's economic fundamentals as soon as possible, given the rupiah's appreciation against the dollar over the past few weeks.
The rupiah's appreciation against the dollar had no doubt reduced exporters' earnings from exports, while on the other hand importers were happy because they could buy imported raw materials at lower prices, he said.
The rupiah has strengthened by about 30 percent since Megawati Soekarnoputri's ascension to the presidency on July 23.
The rupiah fell to 9,190 late on Wednesday, but closed higher at 8,925 on Thursday and further strengthened to 8,860 on Friday.
Commenting on the fluctuation of the rupiah's exchange rate during the past week, Aburizal said ...
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Source: HighBeam Research, INDONESIAN GOVT URGED TO EASE TIGHT MONETARY POLICY.