1. In the short term, Indonesia will keep interest rates high to stabilize the rupiah, the government said. 2. Indonesian officials are expected to draw on that first to stabilize the rupiah, giving corporations a window in which to pay off their debts. 3. On a visit to Tokyo on Thursday, Habibie was quoted as saying a currency board might not be the only way to stabilize the rupiah. 4. A currency board system, if properly conceived and implemented, would definitely go a long way in stabilizing the rupiah. 5. A special representative of Japanese Prime Minister Ryutaro Hashimoto meet Suharto and said Tokyo wanted to help Indonesia stabilize the rupiah. 6. A special representative of Japanese Prime Minister Ryutaro Hashimoto met Suharto on Friday and said Tokyo wanted to help Indonesia stabilize the rupiah. 7. Also Monday, IMF managing director Michel Camdessus said in Brussels that a plan for a currency board to stabilize the rupiah would be premature. 8. And exports are a major source of U.S. dollars which in turn are the crucial ingredient in stabilizing the rupiah. 9. But his statement was the first official confirmation of rumors that the government was preparing to set up a CBS to stabilize the rupiah. 10. But, he said, BI had to pursue the bitter policy to stabilize the rupiah, a prerequisite for economic recovery. |