restoring-confidence-in-the-indonesian-rupiah

Restoring confidence in the Indonesian rupiah

Professor Steve Hanke argues that currency boards can provide stability and confidence for emerging countries facing foreign exchange and interest rate concerns.

Steve Hanke, professor of applied economics at the Johns Hopkins University in Baltimore and a senior fellow at the Cato Institute in Washington DC, has been an advisor with cabinet rank to nine countries, most notably Indonesia, and is currently a member of the Financial Advisory Council in the United Arab Emirates. He was also a senior economist on former US president Ronald Reagan's Council of Economic Advisers, and served as a senior adviser to the Joint Economic Committee of the US Congress.

In the following article, Hanke argues that Indonesia could lower interest rates by introducing a currency board system, and warns that leading policymakers in the US have a poor track...

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