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New York returns 30 pillaged relics to Cambodia, Indonesia

2024-04-28T11:04:54+07:00

The 30 antiquities were looted, sold or illegally transferred by networks of American dealers and traffickers. (File photo: X/HSI New York) -

VOInews, New York : New York prosecutors said on Friday (Apr 26) they had returned to Cambodia and Indonesia 30 antiquities that were looted, sold or illegally transferred by networks of American dealers and traffickers.

The antiquities were valued at a total of US$3 million, Manhattan District Attorney Alvin Bragg said.

Bragg said in a statement that he had returned 27 pieces to Phnom Penh and three to Jakarta in two recent repatriation ceremonies, including a bronze of the Hindu deity Shiva ("Shiva Triad") looted from Cambodia and a stone bas-relief of two royal figures from the Majapahit empire (13th-16th century) stolen from Indonesia.

Bragg accused art dealers Subhash Kapoor, an Indian-American, and American Nancy Wiener in the illegal trafficking of the antiquities.

Kapoor, accused of running a network trafficking in items stolen in Southeast Asia for sale in his Manhattan gallery, has been the target of a US justice investigation dubbed "Hidden Idol" for more than a decade.

Arrested in 2011 in Germany, Kapoor was sent back to India where he was tried and sentenced in November 2022 to 13 years in prison.

Responding to a US indictment for conspiracy to traffic in stolen works of art, Kapoor denied the charges.

"We are continuing to investigate the wide-ranging trafficking networks that ... target Southeast Asian antiquities," Bragg said in the statement.

"There is clearly still much more work to do."

Wiener, sentenced in 2021 for trafficking in stolen works of art, sought to sell the bronze Shiva but eventually donated the piece to the Denver (Colorado) Museum of Art in 2007.

The antiquity was seized by the New York courts in 2023.

During Bragg's tenure, the Antiquities Trafficking Unit has recovered nearly 1,200 items stolen from more than 25 countries and valued at more than US$250 million.

New York is a major trafficking hub, and several works have been seized in recent years from museums, including the prestigious Metropolitan Museum of Art, and from collectors//CNA-VOI

Indonesia plans to study weather forecast management at 10th WWF

2024-04-28T10:55:29+07:00

The logo of the 10th World Water Forum (WWF) at the HI roundabout, Jakarta, on Sunday, March 24, 2024. Indonesia will host this forum with the theme of "Water for Shared Prosperity" in Bali on May 18-25, 2024. (ANTARA/Aprillio Akbar/foc/rst) -

VOInews, Jakarta : Indonesia would be able to explore, learn, and develop weather forecast management to tackle extreme climates at the 10th World Water Forum (WWF), Public Works and Public Housing (PUPR) Minister's Expert Staff Firdaus Ali stated.

"At the forum, we can further explore, learn, and develop the role of weather forecast to deal with extreme climates," he remarked on Saturday.

Ali made the statement when asked about WWF's role in helping Indonesia to mitigate the impact of extreme weather on domestic food security.

He noted that weather and climate are predictable phenomena, unlike earthquakes which cannot be predicted when it will occur and how strong it will be.

Hence, he expressed hope that study in data management and development in weather forecast would help Indonesia to anticipate extreme climates and mitigate impacts in the community.

In order to provide a forum for various countries to exchange ideas, Indonesia is proposing the development of a center of excellence or best practices for water and climate resilience called the Center of Excellence on Water and Climate Resilience (COE).

“Indonesia has the facilities and infrastructures. We need international collaboration and support from donor countries," he remarked.

Earlier, Expert Staff to PUPR Minister for Technology, Industry, and the Environment, Endra S. Atmawidjaja, stated that Indonesia would propose the establishment of a COE at the 2024 WWF to deal with water management due to climate change.

He then highlighted the existence of the Sabo Training Center in Sleman District, Yogyakarta, which could become part of the COE in future.

With the development of the Sabo Training Center, Atmawidjaja believes Yogyakarta can accommodate Southern countries to learn water management and climate resilience//Antara-VOI

Indonesia boost the Establishment of World Lakes Day at the 10th World Water Forum

2024-04-28T10:43:27+07:00

A number of tourists visited Tolire Lake in Takome Village, Ternate, North Maluku, Sunday (3/3/2024). The Ternate City Government is focusing on developing the tourism sector, one of which is arranging supporting facilities at the Tolire Lake tourist attraction using APBD funds worth IDR 15 billion because the area is one of the destinations most visited by tourists both from within and outside the country which is expected to encourage an increase in tourist visits and stimulate the community's economy. ANTARA PHOTOS/Andri Saputra/Spt -

VOInews, Jakarta : The Indonesian government is boost the establishment of World Lakes Day at the 10th World Water Forum in Bali on 18-25 May 2024. This determination is one of the four points of the proposal brought by Indonesia to be adopted as a United Nations (UN) resolution.

This was stated by the Deputy Chair of the Secretariat of the 10th World Water Forum National Organizing Committee and Expert Staff to the Minister of Public Works and Public Housing (PUPR) for Technology, Industry and the Environment, Endra S. Atmawidjaja, Saturday (27/4/2024).

"We want to schedule World Lake Days. This is what we are proposing through the UN General Assembly mechanism so that the decision can later be adopted as a UN resolution," said Endra.

The need to establish World Lakes Day is motivated by the condition of lakes in the world, including Indonesia, which is in the critical category. Lakes which function as water reservoirs also need to be maintained so that water availability for the entire world community is met.

"Our lakes act as extraordinary water reservoirs. We take great pains to build dams, but we have to take care of the natural water reservoirs themselves, namely lakes," said Endra.

According to a release received by Voice of Indonesia on Saturday (27/04/24), the government has also prepared a draft of the Bali Declaration which contains Indonesia's targets for producing concrete follow-up actions following the implementation of the 10th World Water Forum, one of which is the establishment of World Lakes Day through a UN resolution.

Then the establishment of the Center of Excellence on Water and Climate Resilience, and mainstreaming water management issues for developing countries on small islands.

Finally, recording a list of water projects as an inclusive but voluntary Compendium of Concrete Deliverables and Actions. The Compendium will contain a list of projects, initiatives and collaborations managed by national, regional and international water stakeholders. Indonesia will also prepare an online platform for the submission process.

Previously, Chairman of the Secretariat of the National Committee Organizing the 10th World Water Forum and Secretary General of the Ministry of Public Works and Public Housing (PUPR) Mohammad Zainal Fatah revealed that the ministerial level declaration was currently in the final draft stage which was ready to be presented at the 10th World Water Forum.

"We are at the final draft stage which they have approved and that way, at the forum, we just have to declare that this is a joint commitment," Zainal.

The draft Bali Declaration was carried out in consultation with parties, including the World Water Council facilitated by the Indonesian Ministry of Foreign Affairs and the United Nations Educational, Scientific and Cultural Organization (UNESCO).

The Indonesian government together with the World Water Council have prepared a series of meeting forums leading up to the peak event of the 10th World Water Forum. The forum consists of three main processes, namely political, regional/regional, and thematic. The synergy of these three processes is needed in an effort to realize water as a means for shared prosperity//VOI

National Library Press Launches 15 Book Titles on World Book Day 2024

2024-04-28T10:33:08+07:00

The World Book Day Rumah Dunia with the theme "Voice Your Ideas Through Books" launch by Indonesian National Library in Banten (Photo : Perpusnas) -

VOInews, Serang, Banten : In the context of World Book Day 2024, National Library Press Publisher launched 15 book titles on Saturday (27/4) at the Rumah Dunia Auditorium in Serang City, Banten Province.

This activity was packaged as World Book Day Rumah Dunia with the theme "Voice Your Ideas Through Books" resulting from the collaboration of the Rumah Dunia Community and National Library Press as well as the support of various stakeholders who care about the progress of the world of books and literacy.

“Every April 23, we celebrate books. In the community, in a cafe, or alone by uploading it on social media. World Book Day, just to celebrate and congratulate? Is that all? "Don't celebrate by launching your own latest book," challenged Gol A Gong, Founder of Rumah Dunia.

World Book Day is the perfect time to celebrate the power of books to change lives, connect people and build civilization. Everyone can interpret World Book Day in different ways, but the essence of the celebration is a love of books and a commitment to supporting literacy.

According to a release received by Voice of Indonesia on Saturday (27/04/24), the series of World Book Day activities was held for two days (27-28 April) include discussions and book launches, sharing sessions, cheap book bazaars, book door prizes, art performances and other literacy activities.

The first day was filled with book launching and interactive dialogue between book and literacy stakeholders. A total of 114 book titles were launched and 15 of them were books published by Perpusnas Press.

In the sharing session, resource persons were Edi Wiyono, Chief Editor of National Library Press and Firman Venayaksa, literacy activist and also Head of the Untirta Library, Banten, guided by moderator Gol A Gong, Indonesian Reading Ambassador.

Edi Wiyono appreciated the collaborative work between the National Library through the National Library Press Publishers and Rumah Dunia in celebrating World Book Day.

“Books and literacy are two inseparable dimensions. If you want people's literacy to improve, don't forget about providing literacy content. And one of them comes from books. The launch of more than 100 book titles can be a shared spirit in building a better book ecosystem, especially with authors. "Because the history of World Book Day itself was born because it was related to the figure of a writer as well," said Edi.

Meanwhile, Firman Venayaksa emphasized that World Book Day should also be celebrated by parties who are close to books and literacy. One of them is the library.

"The library is not only a place to buy books, not only as a consumer of reading materials. But must be a producer of knowledge. And that can be translated into giving birth to writings and intellectual works. "Books are one form of generating this knowledge," he added.

Approximately 100 participants attended the first day of World Book Day at Rumah Dunia which was centered in the Rumah Dunia Auditorium. Participants come from literacy activists, the TBM Forum community, Regional Reading Ambassadors, literary/cultural communities.

Some participants came from outside Banten, such as several TBM activists from Kuningan, West Java, writers from Labuhan Batu, North Sumatra, from Lampung and there were participants from Papua.

The 15 book titles published by Perpusnas Press and launched in this activity, the authors have diverse backgrounds. There are bureaucrats such as Plt. Governor, librarian, literacy activist and journalist. Several books resulting from the Indonesian Reading Ambassador writing class.

"We writers, finalists for outstanding librarians, are certainly happy because we can share our knowledge in managing and innovating in the field of librarianship, which will lead us to become finalists for national outstanding librarians in 2023. Hopefully this book will inspire all librarians to continue working for the advancement of literacy in our beloved country ," said Juznia Andriani, one of the authors of the book Steps to Achievement Librarians.

Another statement came from Benny Benke, author of the books Selling the Kaaba and Scattered Stories.

"I'm happy that my book can be published by Perpusnas Press. Moreover, it could be part of a book launched on World Book Day 2024. Several friends asked why it was not published in print. "But I think ebooks and free ones are much more effective for reading," said the man who is also a journalist.

The following are 15 titles and authors whose books were launched at the World Book Day event Rumah Dunia: Selling the Kaaba and Scattered Stories (Benny Benke), The Road to the Capital of the Archipelago with Regional Support Partners (Dr. Safrizal ZA, M. Si), Women in Paper and the Things They Fought For (Aminah Tresno, et al), Waggak-Lenggak Dance of Zapin Meskom Bengkalis Village (Dahrial Iskandar, S.IP), Sangkala Panderman Where We Tell Stories (Mochammad Alif Syahrur Ramadhan), Ronggiang Sakabek Arek (Harlita, S.Pd), Playing Cak Bur (Puspa Dani, S.Pd), Angel of the Earth and Other Stories (Ade Viga Widyanti Utami, et al), Stories and Hope from Kubu Raya (Iza Kalola, et al), Tau Statue Tau Toraja South Sulawesi (Suherman), Urban Management in Indonesia (Dr. Safrizal ZA, M.Si), Steps to Achievement Librarians (Amma Naningrum et al), Librarian Initiative (Abdul Gani, et al), The Multitalent Librarian (Alfa Noranda, et al) and the Air Defense System for the Archipelago Capital (IKN) (Sapuan).

The books that have been launched can be accessed digitally and downloaded in full text on the SiPENA (Publishing Information System) page https://press.perpusnas.go.id and on the iPusnas digital library platform//VOI

Stocks rebound, oil and gold retreat on tempered Mideast fears

2024-04-22T17:01:36+07:00

FILE PHOTO: A man walks under an electronic screen showing Japan's Nikkei share price index inside a conference hall 2022. REUTERS/Issei Kato/File Photo -

VOInews, TOKYO/LONDON : World stocks recovered some losses on Monday and bonds, oil and gold dipped as investors reversed some of their more defensive positions taken going into the weekend on fears of a wider Middle East conflict.

The week ahead is packed with corporate earnings, with 158 companies in the S&P 500 and 173 companies in the STOXX 600 reporting first quarter results this week according to data from LSEG workspace.

These include several big European banks, as well as U.S. tech giants Microsoft and Alphabet, with the latter in particular focus after chip maker Nvidia's 10 per cent drop on Friday, its biggest percentage fall in four years.

Crucial U.S. PCE inflation data, the Federal Reserve's preferred gauge, due Friday, finishes off the week. After CPI data earlier this month, markets currently see the first Fed rate cut coming in September.

Ahead of all that, shares rose on Monday, with the STOXX 600 up 0.25 per cent and S&P 500 futures 0.36 per cent higher after MSCI's broadest index of Asia Pacific shares outside Japan rose 0.8 per cent. All fell on Friday.

London's commodities-heavy FTSE100 rose around 1 per cent the biggest gainer among large Europpean benchmarks, as tin and nickel rose to new muulti-month highs. [.L][MET/L]

It was outpaced by a 2.3 per cent gain for the Portugese index as oil company Galp Energia had a STOXX 600 topping 17 per cent jump after saying a field off Namibia could contain 10 bln barrels of oil. [.EU]

In a further reversal of Friday's "rise off" mood, gold eased back from near its peaks, U.S. Treasury yields ticked higher and crude oil prices declined as the potential for a major supply disruption waned.

In recent weeks, investors have taken cautious positions on Fridays fearing an escalation in the conflict in the Middle East over the weekend when markets are closed and they are unable to trade.

"It seems neither Israel nor Iran want an escalation in the crisis in the Middle East ... and with a subsequent strike from either side not looking like it's coming, investor concerns have eased somewhat," said Kazuo Kamitani, a strategist at Nomura Securities.

However, Kamitani said expectations of later Federal Reserve interest rate cuts and concerns about chip sector earnings will continue to keep investors on their toes.

Iran said on Friday that it had no plan to retaliate following an apparent Israeli drone attack within its borders, which in turn followed an Iranian missile and drone attack on Israel days before.

HAVEN OUTFLOWS

Bond yields - which climb when prices fall - rose back toward multi-month highs.

The 10-year U.S. Treasury yield was last up 3 basis points to 4.64 per cent, heading back toward the five-month peak of 4.696 per cent reached last week on the view that the Fed would be in no hurry to ease policy amid robust economic data and sticky inflation. [US/]

European yields also edged higher. [GVD/EUR]

The dollar index, which measures the currency against six major peers, eased 0.05 per cent to 106.05. It was also at a five-month top last week, at 106.51.

"As long as there is this uncertainty about the cutting cylce particularly in the U.S, its interesting for investors to be in dollar longs because of its dual status as a high yielding currency and also a defensive currency," said Yvan Berthoux FX strategist at UBS.

Gold slid 1.3 per cent to $2,358.75, retreating from near the all-time peak of $2,431.29 earlier in the month. [GOL/]

Crude oil fell as traders put the focus back on fundamentals with a rise in U.S. stockpiles as the backdrop

Brent futures fell 137 cents, or 1.56 per cent to $85.92 a barrel. [O/R]//Reuters, CNA-VOI

Solomon Islands election in the balance as voting continues

2024-04-22T16:49:56+07:00

FILE PHOTO: Members of the New Zealand Defence Force (NZDF) Joint Task Force assist in delivering ballot boxes by NH90 helicopter to remote areas of the Solomon Islands ahead of the upcoming election, Solomon Islands, in this handout image released on April 17, 2024. New Zealand Defence Force/Handout via REUTERS/File Photo -

VOInews, Solomon Island : The Solomon Islands election, watched by China and the US for its impact on regional security, is shaping up as a tight race with opposition parties gaining seats and independents holding the key to forming the next government.

Last week's national election was the first since Prime Minister Manasseh Sogavare struck a security pact with China in 2022, drawing the Pacific Islands nation closer to Beijing. The move concerned the US and neighbouring Australia because of the potential impact on regional security.

Counting for several seats continued on Monday (Apr 22), as results showed the opposition CARE coalition drawing level with Sogavare's OUR party on 12 seats in a 50-seat parliament.

Independents and micro parties took 16 seats, and the major parties will seek to win independent support in negotiations this week in the race to form a government.

CARE includes Matthew Wale's Solomon Islands Democratic Party, U4C and the Democratic Alliance Party. Another prominent opposition party, Peter Kenilorea Jr's United, which said it would scrap the China security pact, won seven seats.

One source with direct knowledge told Reuters two independent candidates had joined CARE on Monday, and unofficial results showed it had won two more seats, which would take its numbers to 16.

High-profile former prime minister Gordon Darcy Lilo returns to parliament after a decade, as the only winning candidate for the Party for Rural Advancement.

Daniel Suidani, the former premier of Malaita province and a prominent critic of China, regained his seat in the provincial assembly in Malaita, and said on Monday his party, U4C, hoped to regain the premiership.

Provincial and national elections were held on the same day.

"It looks as though the CARE coalition - U4C, DAP and SIDP - are very shortly joining with some other independent candidates, so it is looking good," Suidani told Reuters in a telephone interview on Monday, adding the process could take a number of days.

Sogavare's office did not respond to a request for comment.

In excerpts of an interview with Solomon Islands' Tavuli News on Monday, Sogavare pledged there would be "a lot of reforms" if his government is returned.

Two women enter parliament for the first time as independents.

Police and defence forces from Australia, New Zealand, Papua New Guinea and Fiji are assisting with election security.

The election process had been peaceful, although there were a few disturbances in Malaita by supporters of losing candidates, two officials in Malaita said//Reuters, CNA - VOI

Bank Indonesia's first rate cut pushed to Q3, smaller cuts this year as rupiah falls - Reuters poll

2024-04-22T16:25:26+07:00

FILE PHOTO: Bank Indonesia's logo is seen at Bank Indonesia headquarters in Jakarta, Indonesia, January 17, 2019. REUTERS/Willy Kurniawan/File photo -

VOInews, BENGALURU : Bank Indonesia will cut its key interest rate next quarter and again in the fourth quarter, later than previously expected, as inflation rises and the rupiah weakens on renewed hawkishness from the U.S. Federal Reserve, a Reuters poll found.

A major hurdle for the central bank, whose main mandate is currency stability, will be cutting rates too soon as the rupiah hit a four-year low on Wednesday after comments from U.S. Federal Reserve officials boosted the dollar.

Inflation touched a seven-month high last month and moved closer to the upper limit of Bank Indonesia's (BI) 1.5 per cent-3.5 per cent inflation target range, suggesting policy rates would need to remain higher for longer.

Over 80 per cent, or 29 of 35, of the economists in the April 16-22 poll expected the central bank to hold its benchmark seven-day reverse repurchase rate at 6.00 per cent at its April 23-24 meeting. Six expected a quarter-point hike.

"We recently pushed back our first rate cut forecast ... given the movement of the rupiah on the back of fewer rate cuts expectation from the Fed by the market," said Makoto Tsuchiya, an economist at Oxford Economics.

"If the central bank were to deter further currency weakness, a 25 bps (basis points) hike is unlikely to do much ... BI will defend its currency by forex market intervention if necessary."

Median forecasts showed the first quarter-point cut coming next quarter, compared to expectations for a cut in the second quarter in a poll in March, followed by another reduction to 5.50 per cent by the end of December, versus 5.25 per cent seen previously.

That was in line with expectations around the Fed as a recent poll showed the first U.S. rate cut has likely been pushed to September.

Among those who provided interest rate forecasts for the third quarter with nearly two-thirds, 21 of 32 economists expect them to be 5.75 per cent or lower. But seven saw rates at 6.00 per cent and four at 6.25 per cent.

"We think the likelihood of a rate hike has risen ... BI is more likely to stay patient and proceed with care, not chasing the initial Fed cut," said Brian Tan, an economist at Barclays.

Only Barclays expected interest rates to be at 6.25 per cent by the end of the year.

There was a clear hawkish shift among economists as over half of the contributors, 15 of 26, raised their fourth quarter forecasts from a March poll. While 10 kept them unchanged, one lowered their rate expectation.

"For Indonesia, the prime driver of monetary policy action is Fed action, not necessarily inflation unless it goes way beyond target," said Kunal Kundu, an economist at Societe Generale.

"Headline inflation remaining above its (BI's) median target of 2.5 per cent suggests that the trajectory of ... rate-easing cycle could be shallow."

While inflation was expected to average 2.9 per cent this year and 3.0 per cent in 2025, economic growth was seen steady at 5.0 per cent in 2024 from 5.05 per cent in 2023 and is forecast to be 5.1 per cent next year.

(For other stories from the Reuters global economic poll)//VOI

Jokowi expects Gorontalo's newest airport to boost regional economy

2024-04-22T16:18:50+07:00

President Joko Widodo delivers his remarks while officiating Panua Airport, the newest domestic airport in Pohuwato District, Gorontalo Province, Monday (April 22, 2024). ANTARA/HO-Diskominfotik Provinsi Gorontalo/nbl -

VOInews, Gorontalo : President Joko Widodo (Jokowi) expected Panua Airport, the newest domestic airport in Gorontalo Province's Pohuwato District to bolster the regional economy as well as the mobility of passengers and logistics.

"I am glad, praise be to God that Panua Airport in Pohuwato District has been completed. Transportation Minister (Budi Karya Sumadi) told me that Rp473 billion (US$29.14 million) has been spent for the development," the president stated while officiating the airport here on Monday.

He said the airport development proved Indonesia is keen to make faster progress in its national economy and development.

"(It is) because in the future, the case is not larger countries that overpower smaller countries, but countries (whose development) progress is faster will beat countries who lag behind," Jokowi stated.

The president also instructed Panua Airport's runway of 1,200 x 30 meters to be extended to allow larger aircraft to land.

"I instructed (officials) to take measures to extend the runway length this year, if possible, or next year by the latest," he remarked.

Meanwhile, Minister Sumadi stated that the airport is one of the president's commitments to ensuring equitable development across the country.

"The airport is one of the legacies of the president who always instructs us to develop airports in all corners of the nation," the minister said.

He highlighted that the high budget of Rp473 billion disbursed for Panua Airport's development aims to improve the soil condition in the airport area before the construction commences.

The president arrived at Panua Airport for the inauguration on Monday at 7:51 a.m. local time. He departed from Djalaluddin Airport in the province's capital aboard an ATR 72-600 aircraft, the largest aircraft currently being served at the new airport.

Before being officially opened by the president, the inaugural flight from and to Panua Airport had taken place on February 18, 2024//Antara - VOI

Tsunami warning lifted after volcanic activity of Mt. Ruang decreases

2024-04-22T16:06:47+07:00

Mount Ruang of Sitaro District, North Sulawesi, erupts. (17/4/2024). (ANTARA/HO-PVMBG) -

VOInews, Jakarta : The Center for Volcanology and Geological Hazard Mitigation (PVMBG) on Sunday has lifted a tsunami advisory previously issued following the eruption of Mount Ruang in Sitaro District of North Sulawesi Province.

"The potential for large eruptions is decreasing, so the chance for tsunamis to occur is less likely," said Head of PVMBG Hendra Gunawan in a statement received here on Sunday.

On April 1-21, 2024, until 12:00 local time (GMT+8), PVMBG recorded as many as 10 eruptions on Mount Ruang starting on April 16, at 1:37 p.m. local time.

A major eruption occurred on April 17, at 8:15 p.m. local time. The continuous eruption was accompanied by rumbling sounds and vibrations felt up to the Mount Ruang Observation Post in Tulusan Village, Tagulandang Sub-District.

Explosive eruptions occurred on Ruang Island, followed by the release of incandescent material and hot clouds. Meanwhile, Tagulandang Island was raining stones and sand, spewed from the volcano which is 10 kilometer away.

The results of visual monitoring carried out by PVMBG on April 21, until 12:00 local time recorded thick white smoke as high as 200 meters from the main crater and no eruption was observed.

"This showed a decrease in eruptive activity on Mount Ruang," said Gunawan.

On April 21, from 00:00-12:00 local time the PVMBG recorded 25 shallow volcanic earthquakes and 19 deep volcanic earthquakes.

The PVMBG team has installed a seismic monitoring station at the Mount Ruang Observation Post which is about five kilometers from the peak to monitor the activity of the volcano//Antara - VOI

Govt preparing steps to protect rupiah amid Iran-Israel conflict

2024-04-22T15:36:11+07:00

Indonesian Finance Minister, Sri Mulyani during the G20 Summit in Bali 2022 (archive) -

VOInews, Jakarta : The government is currently devising strategies for protecting the exchange rate of rupiah from adversary impacts of the Iran-Israel conflict, Finance Minister SriMulyaniIndrawati has said.

The minister observed that the current global situation would surely affect Indonesia's economy, including by disrupting the exchange rate of its national currency.

"We will continue to maintain the stability of the macro economy, both from the monetary and fiscal sides. To adapt to the mounting pressure, we have been in coordination with Bank Indonesia," she noted in her Instagram account @smindrawati, as cited in Jakarta on Sunday.

She added that the government had been striving to ensure that the APBN (state budget) can play the role as an effective and credible shock absorber.

The minister said she acknowledges that the strengthening of the US dollar exchange rate against rupiah might lead to an increase in the value of Indonesian exports.

She, however, noted that such a trend would also adversely affect the country's inflation rate.

On that note, Indrawati emphasized that the government would continue to take anticipatory measures while paying close attention to global dynamics.

"I believe that Indonesia will stand resilient in the midst of this situation," she said.

The state treasurer also expressed optimism about the national economy surviving global uncertainties, like it did during the COVID-19 pandemic era.

"With the support from our strong exports as well as surpluses in the trade balance, I believe that Indonesia's economy will remain stable as expected," she stated.

Earlier, Bank Indonesia affirmed that it would strive to ensure that the exchange rate of rupiah remains stable in the midst of declining US Fed Fund Rate (FFR) and geopolitical tensions escalating in the Middle East.

"We have been striving to maintain the stability of rupiah by resorting to foreign exchange intervention and taking other necessary measures," Bank Indonesia Governor Perry Warjiyo remarked here on Friday (April 19).

In order to sustain Indonesia's economic resilience, he added, Bank Indonesia has been managing the flow of market-friendly foreign portfolios, including by implementing pro-market monetary operations that are integrated with money markets//Antara-VOI