Place Credit Reports Indonesia Order
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Economy Overview:
Indonesia, a vast polyglot nation, has struggled to overcome the Asian
financial crisis, and still grapples with high unemployment, a fragile
banking sector, endemic corruption, inadequate infrastructure, a poor
investment climate, and unequal resource distribution among regions.
Indonesia became a net oil importer in 2004 because of declining
production and lack of new exploration investment. The cost of
subsidizing domestic fuel placed increasing strain on the budget in
2005, and combined with indecisive monetary policy, contributed to a run
on the currency in August, prompting the government to enact a 126%
average fuel price hike in October. The resulting inflation and interest
rate hikes will dampen growth prospects in 2006. Keys to future growth
remain internal reform, building up the confidence of international and
domestic investors, and strong global economic growth. In late December
2004, the Indian Ocean tsunami took 131,000 lives with another 37,000
missing, left some 570,000 displaced persons, and caused an estimated
$4.5 billion in damages and losses. Terrorist incidents in 2005 have
slowed tourist arrivals. Indonesia experienced several human cases of
avian influenza in late 2005, sparking concerns of a pandemic.
GCS and Graydon International
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