Central Banks
Indonesia ‘Far From’ 1998 Crisis Despite Rupiah Slump, Central Bank Says
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Indonesia’s central bank defended the nation’s economic fundamentals as solid after the rupiah this week fell to the weakest since the Asian financial crisis in 1998, when the country needed an international bailout.
“The current condition is still far from that of the 1998 crisis,” Solikin M. Juhro, head of Bank Indonesia’s macroprudential policy department, told reporters in Jakarta on Wednesday. “The situation now is completely different and we are not at all as vulnerable as we used to be.”