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Jakarta Post

Indonesia extra cautious over financial fallout in Vietnam

  • Rendi A. Witular

    The Jakarta Post

Vladivostok, Russia   /   Mon, September 10 2012   /  10:37 am

Learning from the experience of the 1997 Asian financial crisis, Indonesia is closely monitoring developments in Vietnam with the latter ASEAN member at risk of falling into a financial crisis that may drag down other countries in the region.

President Susilo Bambang Yudhoyono said in a press conference after the Asia-Pacific Economic Cooperation (APEC) Summit on Sunday that he had received reports of the situation and had consulted with his economic ministers about the problems.

“The trouble [in Vietnam] should be a lesson for us, particularly in gauging the resilience of our economy against a financial shock,” said Yudhoyono.

“Indonesia and other fellow ASEAN members will be ready to help Vietnam through the crisis without the country having to seek a bailout from the International Monetary Fund [IMF],” said Yudhoyono.

He also said that assistance ...