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BI Governor reports state's financial situation to President

 

Antara ,  Jakarta  

Bank Indonesia (BI) Governor Boediono on Wednesday reported the state's financial situation to President Susilo Bambang Yudhoyono at the State Palace.

 

During the meeting, which was also attended by Finance Minister Sri Mulyani, the President asked the BI chief and the finance minister to work in close cooperation with each other to
maintain the country's economic stability, Boediono told the press after the meeting.

 

"The President directed us to keep a watch over the country's economic stability," Boediono said.

 

The country's economic situation is improving and has passed the negative impact stage caused by the fuel oil price hikes of May 2008, he said.

 

"There was some nervousness during the April-May period, namely in the run up to the fuel oil price hikes. After May, there was also a low 'fever'. Now, I think the situation is much better," the BI governor said.

 

The currency exchange rate, which has remained stable and is even tending to strengthen, is a sign of improvement.

 

The inflation rate, following the price hike, has returned to normal over the past two months, he said.

 

"The money market is also improving. The country's foreign exchange reserves are now recorded at US$ 59.6 billion, which is a pretty good level."

 

Source: The Jakarta Post

 

 

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