Jakarta –
The Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan highlighted the bankruptcy Silicon Valley Bank (SVB). Luhut said that the world is faced with interrelated crises.
“The world is currently facing a poly crisis, a multidimensional crisis that is interrelated,” he said at the 2023 Indonesia Leading Economic Forum, Jakarta, Tuesday (14/3/2023).
He also highlighted the bankruptcy of SVB. According to Luhut, no one suspected this.
“We are now looking at Silicon Valley. No one expected,” he said.
Luhut said Indonesia’s current condition was relatively good. However, he said, Indonesia also needs to be careful about what is happening in the United States (US).
“Indonesia is doing very well today, we have to be careful what happens in the US,” he said.
Luhut continued, the signs of the impact of the collapse Silicon Valley Bank not seen in Indonesia. Luhut said that bank capital in Indonesia was very good.
“Until today we have not seen any signs of having an impact because it looks like the capital or capital from our banks is also very good,” said Luhut.
However, Luhut said, Indonesia must be careful and not be arrogant. “As I mentioned earlier, we have to be super careful with ourselves, we shouldn’t be too arrogant,” he said.
Luhut revealed that Indonesia’s liquidity adequacy ratio or liquidity coverage ratio is 234%, the United States (US) is 148%, Japan is 135%, and China is 132%. “But we can’t be arrogant, that’s actually the point,” he said.
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(acd/zlf)
