Banking Reformation Helps Overcoming Crisis
VIVAnews - The special staff of Finance Minister Chatib Basri said that the world banking reformation will become a determining factor for recovering the global economy. Without any repairment in this sector, the stimulus in real sector will be useless.
Basri said that the members of Working Group I at the G20 Forum have discussed this issue at the Finance Ministers meeting of G20 countries last weekend that was hold in London, U.K.
Based on that meeting, Basri explained that developed countries have committed to support developing countries to commence countercyclical action. One of the efforts is banking repairment for disbursing stimulus funding. The real sector will only be able to generate if there is a funding.
"Real sector will exist if there's an access to the funding," said Basri. Therefore, with the present weak banking system, the banking recovery becomes important.
He said that the fiscal stimulus can be made by every country in time of crisis to fix the economic performance, in which covers the effort to recover and create job fields.
The banking recovery effort will be done by discarding toxic assets from the banking.
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Translated by: Ariyantri E. Tarman
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