Issue To Watch: Outlook for 2023 Commentary by Wayne Forrest As we predicted last January, Indonesia’s 2022 economic performance outstripped 2021, itself a return to growth following the first year of the pandemic. It was more than just government spending and higher mineral prices that helped boost GDP to over 5.0% by Q3: manufacturing
October 2022 Issue To Watch: The Increasing Role of Indonesia's State-Owned Enterprises Commentary by Wayne Forrest You send your kids to school in America, thinking they’re safe, and then a shooting occurs. In Indonesia, it could be a flood collapsing a school’s wall. America’s infrastructure issues are internal, between our ears; in Indonesia, they’re
SEPTEMBER 2022 Issue To Watch: Indonesia After 3 Years Commentary by Wayne Forrest It was wonderful to be in Indonesia for two weeks in August for the first time in three years. Not only did I see old friends and make new ones, I had a chance to travel on one of the many
March 2022 WAR IN UKRAINE Some tell me the current thinking in Jakarta is that the Ukraine War is a two-month affair, a view I suspect may be wishful thinking. The conflict may not be affecting Indonesia yet, but it will have to navigate a riskier environment, especially the longer the war lasts. No matter
January 2022 OUTLOOK FOR 2022 Dusting off the crystal ball is always a daunting task; sometimes you just want to smash it, given the unpredictability of predicting. Here then, is my modest assessment of 2021 and outlook for 2022. Consider them notes and comments. I will leave the deeper analysis to those working on longer
December 2021 THE WAREHOUSE IS EMPTIED At the end of July, at the height of the Delta variant’s impact, I learned that the City of NY had offered over 250 tons of surplus COVID-19 Personal Protective Equipment( PPE) and medical supplies to the Republic of Indonesia, most of it stored in a Pennsylvania warehouse. It
November 2021 THE GHOST OF ALI WARDANA In 1975 a bombshell hit the Indonesian economy: after many years of massive, short-term borrowing and corruption, the Indonesian government of President Suharto publicly declared Pertamina, the state-owned oil conglomerate, bankrupt, having accumulated debts of $10.5 billion. Indonesia’s reputation and ability to borrow was severely damaged. A
Corona Virus Update #85 October 18, 2021 Cumulative number of reported cases: 4,235,384 (as of October 18) Deaths: 142,999 Recovered: 4,075,011 Fatality rate: 3.3% Rupiah to US: 14,096 Jakarta Stock Exchange Index: 6658 Reserves (US$ Billions): $146.870 (September 30)
September/October 2021 NICKEL, COAL, AND VACCINES Commentary by Wayne Forrest As COVID retreats in Indonesia, hopefully permanently, Indonesia has signaled that it intends to “build back better” but with more leverage in global vaccine debates and more control of its own marketplace. Indonesia’s and other SEA leaders believe they have economic and not just
August 2021 US STEPS UP TO ASSIST INDONESIA Commentary by Wayne Forrest The worldwide COVID outbreak hits all countries but affects them differently. The US, with arguably one of the best medical and pharmaceutical sectors, has the capacity to push it way back but not necessarily the full trust of its citizens in vaccines. Australia and New