The economy of Indonesia is the largest in Southeast Asia and is one of the emerging market economies. As a middle-income country and member of the G20,Indonesia is classified as a newly industrialized country. It is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Estimated at US$40 billion in 2019,Indonesia's Internet economy is expected to cross the US$130 billion mark by 2025. Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises. The administration of prices of a range of basic goods also plays a significant role in Indonesia's market economy. However,since the 1990s,the majority of the economy has been controlled by individual Indonesians and foreign companies.
The Bank of Japan is the central bank of Japan. The bank is often called Nichigin (日銀) for short. It has its headquarters in Chūō,Tokyo.
The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect,raising fears of a worldwide economic meltdown due to financial contagion. However,the recovery in 1998–1999 was rapid,and worries of a meltdown quickly subsided.
The Reserve Bank of India,chiefly known as RBI,is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance,Government of India. It is responsible for the control,issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in four of its currency printing presses located in Nashik,Dewas,Mysore and Salboni. The RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.
The rupiah is the official currency of Indonesia. It is issued and controlled by Bank Indonesia. Its name is derived from the Sanskrit word for silver,rupyakam (रूप्यकम्). Sometimes,Indonesians also informally use the word perak in referring to rupiah in coins. The rupiah is divided into 100 cents,although high inflation has rendered all coins and banknotes denominated in cents obsolete.
The Monetary Policy Committee (MPC) is a committee of the Bank of England,which meets for three and a half days,eight times a year,to decide the official interest rate in the United Kingdom.
The Czech National Bank,is the central bank and financial market supervisor in the Czech Republic,headquartered in Prague. It is and a member of the European System of Central Banks. It was established on 1 January 1993 from the division of the State Bank of Czechoslovakia as part of the process of dissolution of Czechoslovakia,together with the National Bank of Slovakia.
Bank rate,also known as discount rate in American English,is the rate of interest which a central bank charges on its loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country,and has changed over time in some countries as the mechanisms used to manage the rate have changed.
The Japanese asset price bubble was an economic bubble in Japan from 1986 to 1991 in which real estate and stock market prices were greatly inflated. In early 1992,this price bubble burst and Japan's economy stagnated. The bubble was characterized by rapid acceleration of asset prices and overheated economic activity,as well as an uncontrolled money supply and credit expansion. More specifically,over-confidence and speculation regarding asset and stock prices were closely associated with excessive monetary easing policy at the time. Through the creation of economic policies that cultivated the marketability of assets,eased the access to credit,and encouraged speculation,the Japanese government started a prolonged and exacerbated Japanese asset price bubble.
Debt monetization or monetary financing is the practice of a government borrowing money from the central bank to finance public spending instead of selling bonds to private investors or raising taxes. The central banks who buy government debt,are essentially creating new money in the process to do so.
Bank Indonesia (BI) is the central bank of the Republic of Indonesia. It replaced in 1953 the Bank of Java,which had been created in 1828 to serve the financial needs of the Dutch East Indies.
Quantitative easing (QE) is a monetary policy action where a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity. Quantitative easing is a novel form of monetary policy that came into wide application after the financial crisis of 2007-2008. It is used to mitigate an economic recession when inflation is very low or negative,making standard monetary policy ineffective. Quantitative tightening (QT) does the opposite,where for monetary policy reasons,a central bank sells off some portion of its holdings of government bonds or other financial assets.
The establishment of the Indonesian Bank Restructuring Agency (IBRA),lit. "National Banking Revitalization Agency") in early 1998 was one of a series of steps taken by the Indonesian government,in agreement with the International Monetary Fund on 15 January 1998,in response to the banking and economic crisis which emerged following the onset of the Asian monetary crisis in mid-1997. Among other things,the drastic depreciation of the rupiah (Rp) reduced bank liquidity,and loss of public confidence in the rupiah and the banking system in general.
Sveriges Riksbank,or simply the Riksbank,is the central bank of Sweden. It is the world's oldest central bank and the fourth oldest bank in operation.
J. Soedradjad Djiwandono is an Indonesian economist who was the Governor of Bank Indonesia,the nation's central bank,from 1993 until his sudden dismissal in 1998.
The capital of the Republic of Indonesia is Jakarta,one of the oldest continuously inhabited cities in Southeast Asia. Previously known as Batavia,it was the de facto capital of the Dutch East Indies. In the early 20th century,the Dutch East Indies government attempted to relocate the capital from Batavia to Bandung. During Indonesia's struggle for independence,the Indonesian government moved the capital to Yogyakarta and then to Bukittinggi,where it remained for a short time until the restoration of control to Jakarta. In 2019,during his annual state of the union address at the parliament,President Joko Widodo announced a plan to relocate the capital to Kalimantan on the island of Borneo. As part of the plan,part of Kutai Kartanegara Regency and Penajam North Paser Regency in East Kalimantan will be carved out to create a new province-level planned city,and the capital will be relocated to a more central location within Indonesia. On 17 January 2022,the name was revealed to be Nusantara.
The currency of Indonesia,the rupiah,has a long history dating back to its colonial period. Due to periods of economic uncertainty and high inflation,the currency has been re-valued several times.
The Monetary Policy Committee is responsible for fixing the benchmark interest rate in India. The meetings of the Monetary Policy Committee are held at least four times a year and it publishes its decisions after each such meeting.
The International Monetary Fund (IMF) has historically had a large presence in Indonesia,Southeast Asia's largest economy. During the Suharto era of the 1960s to 1990s the IMF enjoyed an active presence in the Indonesian economy and politics gaining influence through political sympathizers and technocrats within the Indonesian government. The early years of the Suharto era saw economic growth and modernization in a country that had only recently gained independence form Dutch colonialists. However,as the country modernized and growth slowed corruption became even more rampant particularly amongst the inner circle of the regime. After the fall of Suharto in 1998 the new elected government had a different approach to the IMF and was not so friendly towards restrictions on its economic decisions.
On 20 February 2020,stock markets across the world suddenly crashed after growing instability due to the COVID-19 pandemic. It ended on 7 April 2020.
