Indonesia in better shape after handling crisis: minister

15:28, January 13, 2010      

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Indonesia's Finance Minister Sri Mulyani said on Wednesday that the country is in better shape compared to many other countries after handling the impact of the global financial crisis.

The minister told a parliamentary special committee handling banking bailout case of Bank Century that steps taken by the government to address the crisis, including an action to bailout the bank worth 6.7 trillion rupiah (670 million U.S. dollars), managed to hinder Indonesia from systemic impact of the crisis.

"It's true that the size of Bank Century is not significant but President Susilo Bambang Yudhoyono has given us a guidance line to face the crisis, which was ordering us to prevent Indonesia trapped into the same crisis in 1997/1998, that in turn Indonesia should ask help of the International Monetary Fund (IMF)," said the minister aired live by private television TVOne.

She said that global crisis ahead of the end of 2008, had impacted heavily on Indonesia.

"That impacted public trust to banking sector," said the minister, who was the Head of Stability Committee for Financial Sector when the bailout policy taken.

Source: Xinhua
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