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Jakarta Post

IMF: RI banking system strong, well capitalized

  • The Jakarta Post

Jakarta   /   Sat, September 25 2010   /  11:52 am

Indonesia’s banking system is strong and well capitalized, as has been proven by impressive improvements in financial stability during the 2008-2009 financial crisis, says a senior official at the International Monetary Fund.

“Indonesia has made great achievements in the last decade to improve macroeconomic and financial stability, with fiscal and monetary policies playing a major part,” IMF senior resident representative in Indonesia, Milan Zavadjil, said to The Jakarta Post on Friday.

The intergovernmental institution overseeing the global financial system made the statement in response to recent local media reports on the IMF’s latest assessment on Indonesia’s economy. The tone of the local media on the report was perceived as negative by the IMF.

“Some recent media stories on the report have been misleading and I would like to clarify the results of t...