TheJakartaPost
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Doubling the equity limit for insurers and pension funds to 20 percent from currently 8 percent can be either a bold boost for market stability or a dangerous gamble with institutional solvency. However, "flexibility" might be a double-edged sword that threatens to undermine asset-liability matching and trigger a capital-requirement crisis.
Investors have been avoiding Indonesia and worry Prabowo's spending and cozy governance are slowly undoing hard-won progress made since the Asian Financial Crisis, when the rupiah collapsed and Prabowo's former father-in-law, Soeharto, was forced from office.
It is not immediately clear whether the resignations of five high-ranking officials at the Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK) were voluntary or forced. Senior minister Airlangga Hartarto said President Prabowo Subianto is monitoring the stock exchange following the market meltdown.
The country’s biggest private bank by assets has announced a plan to repurchase up to Rp 5 trillion (US$298.6 million) worth of its shares following a sharp decline in the Indonesian Stock Exchange (IDX) Composite index.
