Foundations of our Capital Market (book review)

29. Title :- Foundations of our Capital Market.
By :- I Putu Gede Ary Suta – edited by John Schroy
Published :-Yayasan Sad Satria Bhakti, Jakarta 2000 (360 pages)

Outline :- The first Indonesian monetary crisis of 1998 was brought about by Indonesia business & Government having limited monetary options. Most companies borrowed US dollars against projects that derived income in Rupiah. Once devaluation struck there was no way out. At such time foresighted professionals educated in USA were developing the Jakarta Stock Exchange. This was pushed through legislation, the facilities built and the system with people put in place. Next came the expansion of the bond market, both for government and private bonds. Central banks function was changed to a monitoring & regulating body, rather than a player. All told in warm tones from close to the key players.