There are doubts AIIB. BI sees opportunities to elude dollars dollars
 |
| The signing of the agreement Asian Infrastructure Investment Bank, October 2014 ago. Indonesia wants to be the host AIIB, chances remove themselves from the hegemony of the US dollar. (Xinhua) |
Asian Infrastructure Investment Bank (AIIB) is perhaps not too boisterous in Indonesia. However, in the international banking, finance infrastructure investment in Asia was enough to grab attention.
Psychological war world economic power began to appear. America, Japan, and China is ready to show strength in the financial sector. Indonesia seemed to want to participate more in AIIB role.
"I see the Chinese want to get hegemony," said an economist from the University of Indonesia, Lana Soelistianingsih AIIB call establishment, to VIVA.co.id, Monday, March 23, 2015.
Until today, there are at least 30s countries have expressed willingness to become founder AIIB. In fact, European countries such as Britain, France, Italy, and Luxembourg has expressed his desire to become a founding member.
Most recently, India, Indonesia, and New Zealand have expressed approval. Founder AIIB believed would reach 35 countries.
"According to the deadline (deadline), we believe the 35 countries, even more, will be a founding member of this bank," said Jin Liqun, Leader (interim) AIIB, told The Straits Times.
Japan and the US averse
Although dozens of countries ready to join, America and Japan were not interested in AIIB. They doubted the source of funds from AIIB.
Japanese Finance Minister, Taro Aso, said his country was still taking consideration to join.
Japan, Aso said, still doubt the credibility AIIB in providing loan funding sources. In fact, Aso urged other countries to think twice before joining in AIIB.
"We have been asked to ensure debt sustainability, taking into account the impact on the environment and society. We can (consider joining) if there is no guarantee of that," said Reuters.
As the leader (the main shareholder), China will invest approximately US $ 50 billion or about Rp603,25 trillion to AIIB. Seeing these funds, should Japan do not need to use reason AIIB funding liquidity concerns.
Not to mention, deposit funds from member countries other AIIB. Small enough chances AIIB drought funds.
Even so, yet Japan is not too interested. The same thing happened in South Korea. Countries that are geographically close enough, it looks reluctant to unite.
Donald Kirk, senior journalist Forbes named Korea under pressure from the United States (US). "South Korea as a bitter pill to swallow when joined with Za'atar," Kirk wrote.
Understandably, South Korea and the US is quite closely related. Uncle Sam claim, AIIB would undermine the authority of the International Monetary Fund (IMF), the Asian Development Bank (ADB), and other financial organizations.
The US also mention AIIB will reduce the functionality of trans-Pacific cooperation (Trans-Pacific Partnership / TPP) ever promoted Washington to cut trade barriers.
AIIB not rival ADB
Financial experts polled by Reuters is not surprising that the US and Japan are reluctant to join the AIIB. The bank clearly will compete ADB, the source of funding comes from the US and Japan.
"Institutions based in Manila (ADB) is dominated by Japan and the US," said analyst who did not wish to be named. US and Japanese funds in the ADB is in the range of US $ 164 billion.
ADB President Takehiko Nakao, not explicitly welcome AIIB will be rivals. "I understand, but I do not accept it," he said, moments after AIIB declared at the end of October 2014.
ADB was established in 1966, offers low-interest loans to middle-income countries down.
At the end of 2013, loans to ADB countries reached US $ 21.02 billion, or more than Rp253 trillion. China has a 6.5 percent stake in the ADB, while Japan and the United States 15.6 percent respectively.
Indonesia wants to host
Although Indonesia is in the "grip" the ADB and the World Bank, Indonesia fact nonetheless brave enough to take a stand. Not only is willing to become a founder member countries, Indonesia volunteered to host AIIB.
On the sidelines of the Credit Suisse Asian Investment Conference in Hong Kong, Monday, March 23, 2015, the Minister of Finance, Bambang Brodjonegoro, revealing that purpose.
Statement finance minister clearly quite astounding. Therefore, the ADB and the World Bank clearly has the power to suppress Indonesia.
Keep in mind, Indonesia has quite a lot of debt to international financial institutions. To ADB, for example. Throughout 2014, ADB provided loans of US $ 500 million to Indonesia.
When visiting Jakarta in January, ADB President Takehiko Nakao, said this year will disburse a loan of up to US $ 1.5 billion, or about Rp16 trillion in Indonesia.
However, Indonesia remains at its founding to join in AIIB. "It is our aspiration, AIIB head office in Jakarta. However, to make it happen, of course we had to compete with Beijing," Bambang said in Hong Kong, quoted by Reuters.
Economist at the University of Indonesia, Lana Soelistianingsih apparently deplore the decision of Indonesia. According to him, Indonesia does not need to be part of it. He suggested that the RI borrow bilaterally. Or it could just take advantage of multilateral funding institutions that already exist.
"Already, deh, borrow bilaterally. There is no need for anything else. Kan, there ADB, World Bank, and others," said Lana.
Lana also doubted the ability of China to provide very substantial funds to sustain AIIB. "The question is, the bank was able to sustain not? Can sustainable? China would not, deposit the funds continue," he said.
The moment of release of dollars
In line with the government, Bank Indonesia (BI) to send a positive signal on Indonesia's decision to join the AIIB. BI quite excited when a financial institution that bring investors into Indonesia.
"Of course we are glad that there are investors came in with funding to support the Indonesian economy," said Director of the Department of Communications Bank, Peter Jacob, when contacted VIVA.co.id.
With the AIIB, expected financial transactions between countries could use the local currency. These conditions will slowly release the superiority of dollars of US dollars.
What can be done BI, says Peter, is to encourage the Chinese-Indonesian transactions do not use the US dollar, but rather to use dollars or yuan currency.
"If the central bank, which is how can we encourage trade between Indonesia and China using the currency to reduce the pressure level (US dollars) on the rupiah," he said. (Art)
Source: viva.co.id
0 Comments
