Economics
Indonesia Sees Market Stress as Good Thing for Reforms
- Policies to open up economy are in the works, Lembong says
- Rupiah has slumped to 1998 low, among worst hit in Asia
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Indonesia’s weakening currency is a good thing as it will spur the government to accelerate reforms to bolster the economy, according to Thomas Lembong, chairman of the Investment Coordinating Board.
The government will soon outline measures to open up the economy to more foreign investment, Lembong said at the “Bloomberg Modern Markets” conference in Bali, declining to elaborate ahead of the official announcement.