Governor, Bank Indonesia Boediono of Indonesia
have bottomed out, and inflation, now 8.
regarded Gadjah Mada University in Yogyakarta.
up-and-coming reformers steal the limelight.
When Boediono took over Indonesia's Finance Ministry in August, 2001, the country's economy and financial system were still in trouble almost five years after the Asia crisis of 1997-98.
Boediono is a good speaker, an able chief executive and an international diplomat with a calm and careful attitude in getting things accomplished.
Boediono is the kind of person who is able to stand firm against political pressure or interference from the government or any members of the Cabinet, especially in view of the upcoming general elections and presidential elections next year.
So, all in all, the selection process at the House should be smooth because, in terms of political acceptability, integrity, credibility and experiences in fiscal and monetary management and international networks, Boediono is far better than the two previous candidates--Agus Martowardoyo, chief executive officer of Bank Mandiri, and Raden Pardede, vice president of the state Asset Management Company--who were both voted down by the House.
create better economic conditions.
better national logistics management was needed.
overcome only by raising the interest rates.
that parts of the laws could be partially implemented in 2007.
monopolies in these sectors and opening them up to private investment.
var RTR_ArticleBlurb = " (Adds details, quotes) JAKARTA, April 7 (Reuters) - Indonesian Chief Economics Minister Boediono was appointed governor of the central bank following approval by a parliamentary commission, a member of parliament said on Monday.
was ``key in keeping inflation under control.
and Boediono is an expert in handling such situations.
were still part of the president's economic team.
markets as a capable set of technocratic hands.
or associated with Kalla's and Bakrie's families.
var RTR_ArticleBlurb = " JAKARTA, April 7 (Reuters) - Indonesian Chief Economics Minister Boediono has been appointed governor of the central bank following approval by a parliamentary commission, a member of parliament said on Monday.
Boediono is widely regarded as the leading architect of Indonesia’s economic recovery from the Asian financial crisis.
Boediono said that the focus would be on small and medium-size projects that would create jobs quickly.
Boediono said that he saw some risk of this happening in Asia, although he said it was not the top risk, and added that the key would be whether China preserved the value of its currency.
JAKARTA: Indonesian Chief Economics Minister Boediono was appointed governor of the central bank following approval by a parliamentary commission, a member of parliament said yesterday.
Even though real interest rates, the difference between inflation and nominal interest rates, are negative, Boediono said that was not a problem for Indonesia and was common in other countries in theregion.
Boediono took over Indonesias Finance Ministry in August 2001, the countrys economy and financial system were still mired in the Asia crisis of 199798.
Boediono remained in office until 2004, earning a glowing international and domestic reputation for his extreme fiscal prudence and technocratic finesse.
Today, Boediono is Indonesias Coordinating Minister for the Economy and was recently described by The Jakarta Post as one of Indonesias most highly respected economic policymakers, adding the return of Boedionos steadying and unifying influence is something for which to be grateful.
If Boediono joined the economics team, the economy would have a greater chance of picking up as he was known for his successful maintenance of fiscal stability during his term, said economist Kahlil Rowter.
Before becoming finance minister, Boediono had served as head of the National Development Planning Agency and deputy governor of Bank Indonesia (BI.
Boediono said that there had been signs of limited capital flight in the fall when Hong Kong and Singapore guaranteed all bank deposits Indonesia guarantees each account up to $200,000 but added that the deposit base at Indonesian banks hadstabilized.
If Boediono joined the economics team, the economy would have a greater chance of picking up as he was known for his successful maintenance of fiscal stability during his term, said economist Kahlil Rowter of Mandiri Sekuritas.
Before becoming finance minister, Boediono had served as head of the National Development Planning Agency (Bappenas) and Bank Indonesia (BI) deputy governor.
I think his experience as chief economics minister would be questionable, especially when the real sector currently needs breakthrough policies, while Boediono is known for being a careful policymaker," he said.
Meanwhile, Fauzi warned of a possible negative market reaction if it turned out Boediono was not appointed finance minister or chief economics minister as has been expected.
I hope hes referring to real growth.
Economy minister Boediono said the government is most concerned about ensuring that prices and supplies of vital goods are stable, above all rice, production of which is hoped to be increased by 2 million tons annually.
Boediono said economic growth prospects remained positive, because internal factors were the most influential, - interest rates were stable, infrastructure projects such as road building and new electricity generation were still going ahead, as was housing construction, and additionally, prices of export commodities remained high.
How Co-ordinating Minister Boediono has led the economic recovery of Indonesia in the wake of the 1997 Asian Financial Crisis.
New governor Boediono has to put the central bank back on track as a corruption trial looms over a previous incumbent.
In March, BI governor Burhanuddin Abdullah was arrested and until new governor Boediono was installed in May, the central bank was run in part from his gaol cell.
At 65, Boediono is one of Indonesia’s most-respected academics and economists, a former BI deputy governor in the 1990s who was moved across to the bank from the cabinet of president Susilo Bambang Yudhoyono, where he had been co-ordinating minister for the economy since 2005.
The spin around the Istana Merdeka, Jakarta’s splendid Dutch colonial presidential palace, was that Boediono had actually been SBY’s first choice but had advised him that he was not interested in the job.
Whatever the truth, and Boediono was too discreet to tell Euromoney, his candidature, the third one put to parliament, was promptly approved.
and minerals, chief economics minister Boediono said on Monday.
He said, meanwhile, Boediono was continuing to function as coordinating minister for economic affairs and would do so until he was installed as BI governor.
But Boediono said he was not recommending that Asian central banks sell any of their dollar reserves to put pressure on the United States to raise interest rates.
Boediono said he saw some room for the Indonesian rupiah to rise against the dollar, but that the timing could not be forced on his country.
Boediono said that the Federal Reserve should raise short-term interest rates, and that his experience during the Asian financial crisis made him believe that the Fed could act without causing excessive damage to the American banking system.
Noting "impatience" by the international community on the slow pace of reforms in Indonesia, Boediono said the government had to hold time-consuming consultations with parliament and other "stakeholders" before crafting policies under the country's new vibrant democratic environment.
Boediono said he expected to see economic growth at 6.
Boediono said an investment law passed by parliament last week included equal treatment for domestic and foreign firms in some areas and the right of foreign firms to seek redress through "binding" arbitration in cases of disputes with government.
Even though current real domestic interest rates -- the difference between inflation and nominal interest rates -- are negative, Boediono said that was not a problem for Indonesia and was common in other countries in the region.
Boediono had previously said the government planned to revive state credit insurance firm PT Asuransi Kredit Indonesia (Askrindo) and state investment firm PT Permodalan Nasional Madani (PNM) to help small entrepreneurs secure loans.
As for infrastructure development, Boediono said the government would upgrade its capabilities in preparing infrastructure projects before offering them to investors through public-private partnerships.
Boediono has been steering government finances since Indonesia verged on bankruptcy in August, 2001.
Earlier, Coordinating Minister for the Economy Boediono said that many financing firms were operating without legal grounds, but had made a significant contribution to the growth of SMEs in the country.
The microfinancing firms Boediono was mentioning carry out their activities exactly as defined by the summit and the bank.
However, Boediono said there was a definite trend toward increased investment, albeit only barely perceptible to date.
Mr Boediono has impressive credentials and a good reputation, but as a former member of the bank may be more understanding towards those involved in past practices.
Mr Boediono was involved in deals to absolve some of those businessmen, agreements that are now the subject of new questions after prosecutors dropped attempts to reinstitute charges.
JAKARTA, Sept 16 (Reuters) - Indonesia's central bank is ready to take necessary steps to mitigate the turmoil in domestic financial markets, Bank Indonesia Governor Boediono said on Tuesday.
Central bank governor Boediono said on Friday the bank would continue to operate in the market to ensure stability of the rupiah but policy responses would be cautious, Reuters reported.
As finance minister starting in 2001 and now as governor of the central bank, Boediono is widely regarded as the leading architect of Indonesia’s economic recovery from the Asian financial crisis.
Boediono said there were signs of limited capital flight when Hong Kong and Singapore guaranteed all bank deposits — Indonesia guarantees each account up to US$200,000 — but added that the deposit base in Indonesian banks had stabilised.