Part of the Country’s Debt is Carried Forward Balance of 1998 Crisis

1998 economic crisis
Part of the Country’s Debt is Carried Forward Balance of 1998 Crisis
In 2008, the world underwent economic crisis due to the greed of the hedge fund. Bank Century was supposed to be a bank, which was potentially systematic in banking industry, so it had to be saved. Sri Muyani and Boediono saw this potential but House of Representatives looked at it from political spectacles – a figure of 6.7 trillion IDR, whereas the cost of restructuring the bank could reach hundreds of trillion IDR.

It wasn’t a case of Bank Century without corruption indication. However, it had to be looked at from a clear view point without using political motive of hostage. House of Representatives once again proved political hostage model against Century case.

Sri Mulyani is a character who is only committed to the world of finance. She said she’d withdrawn a minister of finance not because she was scared but she thought she’d better help Indonesia at International level at the World Bank. It was obvious that World Bank would only recruit people of super talent – not based on S3 Degree holders but have no quality or of an honorary doctorate degree, whose credibility is still in the gray zone.

Another evidence of Sri Mulyani’s credibility is that she delivered a general lecture at Harvard Kennedy School.  Few Indonesian economists of world-level recognition can do this.

“On Tuesday, March 7th, 2017, I delivered a general lecture at Harvard Kennedy School. My topic was “The New World Order: Indonesia’s Response and Call for a Coordinated Global Response,” said Sri Mulyani via her personal Instagram, @smindrawati, Wednesday (8/3/2107)

Aren’t they aware that as of today the country’s debt burden from 1998 Crisis has had a balance of 195 trillion IDR plus interest of 40 trillion IDR totaling 244 trillion IDR. They should’ve thought about it a little. Are they aware of this data? The answer is obviously no. To the best of their knowledge, Jokowi has had too much debt to finance infrastructure projects, which could threaten the country’s finance.

They forgot that the country debt is productive, while they also forgot that 1998 Crisis has left significant debt balance. Fortunately, Sri Mulyani has discovered this. “The debt Statement is still with us and the debt still has to be paid,” explained Sri Mulyani, while holding a news conference in Jakarta, Monday (13/3/217).

If President Jokowi had an additional cash amount of 244 trillion IDR, the country wouldn’t have borrowed that much. By the way, is the ex president aware of this figure?
House of Representatives dared to take an action when Sri Mulyani was away at the World Bank.

House of Representative was in fact scared regarding budget matter. It was proved that a lot of budget matters were decided after Sri Mulyani had withdrawn. Ahok was at the time still a member of Commission Two of House of Representative. He warned other members concerning the matter but was considered to be a trouble maker who made noises.
Other evidence was that National Budget, which could potentially cause State’s loss was prepared only after Sri Mulyani had left as minister of finance.

Translated from:


Author: verified_user

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