Indonesia Is Headed Towards a Big Crisis

"THE financial crisis affecting developing countries arrived in full-scale fashion in our region last week when the Indonesian economy experienced shocks reminiscent of the Asian crisis 20 years ago."

Be ready – financial crisis is near 

"London: In a sign of the pressure on emerging currencies, the Indonesian rupiah fell 0.7 per cent to its lowest level since the Asian financial crisis in 1997-1998.


The rupiah has weakened nearly 9 per cent against the dollar so far this year, one of the worst affected currencies in the emerging markets sell-off, despite repeated interventions from the central bank. Indonesia’s inflation picked up in August, but remained within the central bank’s target range."

Indonesia CRISIS: Rupiah SLUMPS to its weakest level in more than 20 YEARS

 "The Jakarta stock market .JKSE is Asia's worst performer in 2018 after China, with losses of more than 10 percent.

Indonesia’s current fragility comes from a mix of longstanding and new factors. It has long had huge amounts of foreign money invested in its high-yielding bond market. Now it does not have trade surpluses, and the current-account deficit has worryingly widened."

Why a stronger Indonesia is still Asia's most fragile market

"As Indonesia's currency trades at its weakest levels since the 1998 Asian financial crisis, a local restaurant chain is offering free meals to clients who can prove they have exchanged holdings of U.S. dollars for the ailing rupiah."

Indonesia Restaurant Chain Seeks "Rupiah Warriors" as Economic Worries Grow

Expect defaults, further currency decline, rising interest rates and trade slowdown.