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RI-Singapore agree on US$10 billion currency swap

Friday, 12 Oct 2018
RI-Singapore agree on US$10 billion currency swap
Southeast Asian leaders pose for family photo during ASEAN Leaders Gathering ont the sidelines of International Monetary Fund and World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, Thursday, Oct. 11, 2018. From left, Cambodia’s Prime Minister Hun Sen, Brunei Sultan Hassanal Bolkiah, Thailand’s Prime Minister Prayuth Chan-ocha, World Bank President Jim Yong Kim, Singapore Prime Minister Lee Hsien Loong, Indonesia’s President Joko Widodo, United Nations Secretary General Antonio Guterres, IMF Managing Director Christine Lagarde, Vietnam’s Prime Minister Nguyen Xuan Phuc and Philippines President Rodrigo Duterte. (Anggun/Cabinet Secretariat)

Odd-even policy successful, but not permanent option

The Jakarta Post, p. 1

Since it was first enforced on major thoroughfares prior to the 2018 Asian Games, the odd-even license plate traffic policy has been deemed successful in easing Jakarta’s notorious traffic. The policy stipulates that cars with license plates ending in an odd number are only allowed to travel on certain roads on odd-numbered dates, while those with even plate numbers are allowed to use the roads only on even-numbered dates. The Jakarta Transportation Agency recorded that vehicle speeds under the odd-even policy had increased 44 percent and CO2 emissions in the city’s air decreased 20.3 percent. Despite the policy's success, Jakarta Governor Anies Baswedan has implied that the policy might not be the best solution in the long run. Anies said he had heard that used car dealers' sales had increased 15 percent since the policy was enforced. The governor voiced concern that the policy could encourage people to buy more cars instead of use public transportation.


RI-Singapore agree on US$10 billion currency swap

Investor Daily, headline; Kontan, p.2

President Joko “Jokowi” Widodo and Singapore Prime Minister Lee Hsien Loong agreed in Bali on Thursday (Oct. 11) that Bank Indonesia (BI) and Monetary Authority of Singapore (MAS) would have a currency swap agreement totaling US$10 billion to face global uncertainty.

According to President Jokowi, the deal would strengthen Singapore-Indonesia financial partnership and helps maintain monetary stability of the two counties. The agreement was a positive sentiment during the current global economic uncertainty. In addition to Singapore, Indonesia has also signed other currency swap agreement with Australia, Japan, Korea and China.