Wednesday, December 03, 2008

Indonesia's Economy



There is a falling demand for Indonesia's exports.

Foreigners are cutting their holdings in Indonesian bonds.

The Indonesian rupiah has fallen 24% since the start of September 2008.

Within the next 3 months, the rupiah is expected to fall a further 10% to its lowest level since 1998 as investors sell more of their Indonesian assets, according to Goldman Sachs Group Inc. (Indonesian Rupiah Set to Fall 10% in Three Months, Goldman Says)

Indonesia is South East Asia's largest economy.

It is still expanding.

Goldman Sachs expects it to grow 3% in 2009.

Indonesia is the world’s biggest producer of palm oil and the second-largest maker of rubber.

The central bank raised interest rates this year to 9.5 percent to quell inflation.

The Jakarta Composite Index of stocks has dropped 56% in 2008.

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