Monday, September 19, 2011

Indonesia wants its monies back

The central bank expects the rule will add an average of $29.5 billion of foreign-currency reserves to Indonesia’s banking system each year, Perry Warjiyo, Bank Indonesia’s director of economic research, said today.

The central bank will issue the new rule at the end of this month and it will take effect Oct. 1, Nasution said. There will be a sanction-free transition period from Oct. 1 until January for companies to report revenue and proceeds, he said.

Guess how this is going to affect Singapore, which holds much of Indonesian's deposit, if the above regulations are successfully implemented? (Till now, Indonesia rich are good at dodging government's regulations)

Not many in Singapore knows that we derive our prosperity very much by using Indonesia as our hinterland. In times to come, Jarkata will increasingly assume the role of regional financial center, when Indonesia become more developed. 

1 comment:

I'm a fan said...

World economic problems can be solved with a world war 3.

It will

reduce population
induce production
increase innovation
reduce waste

Singapore should pick a fight with a neighbour. This will bring the ctizens to bond a little better. The half citizens will flee to their original homelands.

One thing good about being outside the elite circle of Lexus, Sentosa Cove and privileged, people like me are not bothered about Indonesia's issue on money, stock market crashes, gold prices climbing or the latest LV shop opening.

We dont have any worth their time.
Anyway, they probably have sucked it out without me knowing.

But hey, thanks for the very interesting perspectives that you have blogged. Good, mind teasing ideas and views... much better than chua mui hoong and relatives.