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View all search resultsAt 80, the UN stands at a crossroads as a stalwart of multilateralism, and the way forward is to show that this works through cooperation, prioritization and action that is inclusive and respectful of the needs of developing countries, especially for localized solutions.
At the age of 80, Indonesia has reached a crossroads where it must decide which path to take: the one it has trod in the past that benefits only a handful of elite, or a wholly new course to restore its moral compass and pursue prosperity for all.
The seemingly positive fiscal trajectory hides a deeper vulnerability: the growing burden of debt servicing, which is steadily consuming a significant portion of the government’s revenue and narrowing its fiscal space.
The growing trend of de-dollarization, especially on the heels of the MOU to promote local currency use signed last month between the central banks of Indonesia and China as well as the global turmoil following Trump's tariff policy flip-flop, presents a strategic opportunity for Indonesia to strengthen its fiscal and monetary policies.
The International Monetary Fund (IMF) and World Bank spring meetings this week in Washington have been dominated by worries about the economic fallout from century-high US tariffs, and retaliatory ones announced by China, the European Union, Canada and others.
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