Friday, May 10, 2013

The Car Insurance Info : BI reiterates no re-denomination influence the cost of printing money

Jakarta (The Car Insurance Info)-the Executive Director of the Center for research and Education the Central Bank Bank Indonesia Iskandar Simorangkir said the redenomination will have no effect on the magnitude of the cost of printing money on BI.

"I got accused of redenomination is a project to get the cost of printing money. It is not true because each year the BI indeed print money-new money, "said Iskandar Simorangkir in Jakarta on Tuesday.

He said every year BI withdraw money-money-money shabby and publishes new money as his successor. With redenomination, there will be no additional cost pencatakan monies for BI will only change the new money being printed by the rupiah denominations.

Therefore, he assured the redenomination will not provide an influence towards the cost of printing the money let alone become a project for BI officials to profit from printing money by denomination.

"Re-denomination is done for the efficiency of the economy. The idea does not appear suddenly because BI is already conducting research for 10 years. Based on the research, the need for redenomination is getting bigger, "he said.

Iskandar said the research done BI find difficulty with the rupiah denomination community with zero too much. The facts on the ground, people are already doing rednominasi by eliminating three zeros, so that the value of Rp 50,000 mentioned or written Rp50.

He exposes many countries make the re-denomination, such as Turkey, Romania, Poland and Ukraine. the success it can happen because of the strong support of the community, carried out at a time when the economy is stable, has a strong legal basis and intensive education to the community.

In addition there is work, there is also a country that fails to make the re-denomination, among others, Russia, Argentina, Brazil and Zimbabwe. The failure is due to the application of a less appropriate that when the economy goes bad and unhealthy macro policies.

"If the prerequisites are met the re-denomination and risk mitigation anticipated well, Indonesia's economy could benefit as other countries to successfully perform the re-denomination," he said.

Iskandar Simorangkir was one of the speakers at the Seminar ", Indonesia ready to face the Re-denomination?" held the set Student Study Accounting scandal Perbanas Institute at the Auditorium scandal Perbanas Jakarta.

In addition to the other speakers, He was Bank Mandiri Chief Economist Destry Damayanti and economic experts University of Indonesia Jakarta Telisa Aulia Falianty.

Car Insurance; Insurance

Car Insurance; Insurance; Health Insurance

Title Post: The Car Insurance Info : BI reiterates no re-denomination influence the cost of printing money
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Author: Mohammad Zulfi Satriawan

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