BANK INDONESIA Redenomination NOT PLAN REVIEW sanering (WITHHOLDING MONEY)
Jakarta | Mon 02 Aug 2010 19:20 pm
Mohammad Hatta
HEAD Public Relations Bureau Bank Indonesia (BI) Difi A. Johansyah said the current BI is still reviewing the application redenominasi. "That's just us in order to study the integration of regional economic communities such as ASEAN to ease the payment transaction. That's just the beginning of the study to look at the prospects and contranya,
He explained that, unlike redenominasi sanering the first occurred in the 1960s. "If sanering, if we have money Rp10 thousand, then cut in 1000 so Rp10. But, for example, the price of goods is not cut, but still Rp10 thousand. So be declining purchasing power. However, if redenominasi, all cut zeros, including the price of goods. So people are not disadvantaged in terms of purchasing power, "he said.
Members of the House of Representatives Commission XI PAN faction "Mohammad Hatta" when asked about plans tangapanya redenominasi thing that is being studied by Bank Indonesia, Hatta explained that the problem penyerdehanaan the only mention of the nominal money dikurangin penyebutanya null, if its value remains the same. it is not sanering which cut the amount of value for money. so the store would lose money because of cuts in value, people do not worry about the issue sanering (Cutting Value Exchange) our economy strong start inflation we controlled our foreign exchange reserves also increased the trend continues. M.Hatta said.
He explained, sanering happens when government does not have the money, or being hit by the economic crisis. However, in terms of redenominasi, as was the case in other countries, occurs when the economy has begun to move forward. He cited Turkey as a country which has implemented redenominasi. "When the economy is stable, inflation is stable, that is where the Turkish state (in its currency system) null much, feel the need to simplify the payment system becomes null so efficient," said Mohammad Hatta on Monday (02/8)
So, redenominasi not mean that Indonesia's economy is weak. "If sanering, yes. Redenomination could mean Indonesia is heading in the future economic stability, "he said.
He added that the application redenominasi transition takes at least five years. "So it is not sudden but gradual," said M.Hatta.
Difi A. Johansyah confessed, now the new BI approaches at this stage of the discussion on internal BI alone, has not been discussed with agencies outside of BI. "In this case, the central bank needs to seek approval from various parties. Among other things, the Government (Ministry of Finance, Ministry of Trade, and the capital market authority), and the House of Representatives. All agencies should be involved regarding the price. Including employers' associations, as well as banking. So, this is still the study, and we need to know first its prospects and cons before applying it, because it is not easy, "he said.
In Turkey, he said, the program was only implemented after redenominasi achieved national commitment and a variety of conditions for economic stabilization as the fiscal deficit under control implemented. "If redenominasi executed, the trader must include two prices, so that there is public control. So that traders can not raise prices arbitrarily. So, put the old price and new price. He had to put two labels, "he said.
He said that the idea redenominasi this idea comes as Bank Indonesia feels the future inflation will be more stable, so that like in other countries, the central bank feels the presence of stability, BI can rearrange the fragments back in Indonesia. "If inflation is high, the value of currency denominations, especially the small fraction that does not matter. So we dared to implement it, because we feel inflation will forward uncontrolled Indonesia. If in Malaysia 1 ringgit is still valid, then we would like, in Indonesia Rp1 could also apply, "he said. (Ags istw)
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