- VivaNews/ Nur Farida
VIVAnews – Bank Indonesia (BI) claimed that the global economic growth is slowing down. Despite the issue, Indonesia’s banking is still deemed strong in dealing with the global economic downturn.
According to BI chief researcher Suhaedi, the direct exposure to the crisis in Europe and America is small, around 3.13 percent of the total Indonesia’s assets, which holds 79 percent of Indonesia’s financial system.
“We have some measures in preventing Indonesia’s banking from undergoing crisis, among others, creating crisis management protocols comprising crisis prevention and management procedure, decision making and the coordination with the government and other institutions,” he explained in Jakarta, Tuesday.
The global crisis may likely affect Indonesia’s economy in 2012. The world’s economy is estimated to be slower than 4.3 percent (year-on-year), which was 4.2 percent in 2011.
Meanwhile, Bank Danamon chief economist Anton Gunawan said Indonesia must anticipate the possible sudden reversal when global turmoil takes place as the majority of stock is controlled by foreign investors.
According to him, 63 percent of stocks are owned by foreign investors while 40 percent others tend to choose bonds market including BI certificates (SBI). The crisis can easily penetrate the stock market.
“This will change the investors’ perception regarding their own stock portfolio,” he said.
However, taking the condition into account, Indonesia is supported by good balance of payments. Foreign exchange reserves also increased and broke the record, equivalent to 7.1 months of import.
“If the global crisis really upsets Indonesia, the commodity prices must be monitored,” he said.
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