Thursday, October 05, 2006

Sick Man of IMF no more, but...

Central Bank governor Burhanuddin Abdullah said: "With an accelerated payment of US$3.2 billion to IMF today, we're no longer the sick member, we're a normal member now, at the same level of playing field with other normal members," Detik.com quoted Abdullah today.

Bank Indonesia, the central bank, also revised up its predictions on several macro economy indicators. Inflation, for example, is projected at 6.7% and economic growth at 5.5%. What's next?
We need to convince investors (domestic & foreign) that Indonesia is a profitable place to invest in. Without inflow of investments to create more jobs, these macro economic indicators are just numbers and we're still the sick man of Asia compared to China and India.

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2 Comments:

Blogger RJ said...

Yup,
In addition to that, we all need to provide/improve:
1) Certainty of law and regulation,including independent judicial system (wow...)
2) Incentives for Investors who are willing to invest in rural Eastern Part of Indonesia,
3) Social security: no more organized crime, both "white or non-white collar" (tough to do.. but must!!)

Last but not least, a common willingnes of all countrymen...to rebuild the welfare of their own nation and country!!

October 05, 2006 4:36 PM  
Anonymous Anonymous said...

Amen to that !

October 10, 2006 1:07 PM  

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