Biting the bullet: Indonesian technocrats urge faster pace of economic reform

Article Abstract:

Indonesian technocrats need to decentralize management of government-owned enterprises and ease governmment regulation of trade. Measures to effect these ideal plans are being promoted by a group urging for immediate enforcement of reforms to preserve Indonesia's economic advantages over India, China and Vietnam. Among the reforms announced on Jul 6, 1992, were the lifting of non-tariff barriers and reduced duties and lighter regulation of foreign workers and land use. However, other progressive initiatives need to address the bureaucratic barriers which slow down trade and discourage foreign investors.

Economic development, Suharto

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Growing pains

Article Abstract:

The Indonesian government has imposed restrictions on its banking industry to strengthen its position in the market. The industry, which benefited from the 1988 deregulation policy called Pakto, has grown and has become more competitive in 1991. To cope with the growth of the banking industry, Bank Indonesia, Indonesia's central bank, has come up with new regulations to increase bank capitals from 5% to 8% of their total assets. Foreign banks are likewise required to channel 80% of their foreign-currency credit to the export sector.

Commercial Banks, Central Reserve Depository, Laws, regulations and rules, Foreign banks, Bank Indonesia

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The chase is off

Article Abstract:

Chase Manhattan Bank N.A. plans to sell its Indonesian consumer-banking unit as a result of financial reforms instituted by the country in 1988. The sweeping reforms resulted in a wave of new banks and bank branches, thereby intensifying competition for deposits and clients. Foreign banks, limited to seven branches nationwide, quickly lost out to their local counterparts in the consumer banking field.

National commercial banks, Foreign operations, International banking, Chase Manhattan Bank N.A. (New York, New York), International banking facilities

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