Commentary by Wayne Forrest It keeps happening over successive Indonesian presidencies: a transformational figure is elected (Susilo Bambang Yudhoyono, Joko Widodo) who appoints transformational ministers, who propose reforms. But, then things bog down. Frustration sets in, or the person leaves the Cabinet. Growth atrophies and the language of discourse remains in the pluperfect tense.
Which Way is the Wind Blowing by Wayne Forrest Recently Moody’s and Fitch curiously upgraded their Indonesia sovereign rating while the government fixed energy and electricity prices for two years, placing the large obligations of state-owned Pertamina and PLN at risk. Meanwhile the rupiah and stock market indexes are trending south but Bank Indonesia
Indonesia possesses many excellent economists who know supply and demand. They graduate from the economics departments of not only the nation’s best universities that rank with counterparts in other countries but from foreign universities as well. Many occupy senior positions in the government. But yet, when it comes to commodities such as rice or
Accountability Commentary by Wayne Forrest According to recent news reports underpasses in downtown Jakarta were recently flooded causing worse-than-normal gridlock. Pumps were not checked and maintained regularly, apparently. All of Indonesia’s tsunami buoys are inoperable due to vandalism and lack of maintenance, an official from the National Disaster Mitigation Agency recently said. The new
The World Bank recently announced that Indonesia jumped 19 places in its ease of doing business rankings to 72 out of 192 countries. (It ranked 114 at the time of President Jokowi’s election). Before we cheer too loudly its important to understand that the positive ratings change has come by the bank’s analysis of regulations