It seems that the resignation of the Governor of Bank Indonesia is not just ordinary news.
Bank Ind... It seems that the resignation of the Governor of Bank Indonesia is not just ordinary news.
Bank Indonesia is the final guardian of monetary stability: regulating interest rates, controlling inflation, maintaining the value of the rupiah, and being the last bastion when the economy is shaky.
Just look at the context:
The Rupiah is under pressure, inflation is eating away at people's purchasing power, the state's debt burden is swelling, while the government continues to pursue tax and levy revenue targets in increasingly arrogant and aggressive ways - including involving Babinsa and Babinkamtibmas to charge the little people.
So the resignation of the BI Governor at a time like this seems to convey a strong message: that there is something wrong between monetary policy which should be independent and political intervention which is increasingly thick.
This is not just a change of officials, but a symptom of weakening state institutions.
People who are already being squeezed by the crisis - prices are rising, employment opportunities are scarce, taxes are increasingly suffocating - now also have to watch the top of the country's economy begin to shake.
That this country is increasingly showing its true face: money hungry, weak institutions, and willing to sacrifice stability for the sake of the ruler's ambitions.See More
Resignation of the Governor of Bank Indonesia
Published: 1 hour ago
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Resignation of the Governor of Bank Indonesia (Image: Negeri Konoha)
It seems that the resignation of the Governor of Bank Indonesia is not just ordinary news.
Bank Ind... See More
Bank Ind... See More
