July 2017 3rd Week

01 august 2017

Categories : IR Weekly Review

    • MACRO
      • The International Monetary Fund (IMF) assesses the US economy in the next two years looks more fragile. On Sunday (23/7), the IMF lowered its prediction of US economic growth to 2.1% for this year and next year. This projection was lower  than the previous prediction in April of 2.3% for 2017 and 2.5% for 2018. The figure was also far from the economic growth target promised by US President Donald Trump in his campaign of 4%, and lower than the 3% of growth rate he has been targeting since serving as president.

      • Most Asian currencies were strengthened against the dollar on Friday after comments from European Central Bank President Mario Draghi sparked a rise in the euro against the dollar. He said policymakers would discuss changes to the bond-buying program in the fall. Chief analyst at Skandinaviska Enskilda Banken (SEB) said there were two things - the euro's strength after the ECB meeting and the negative things coming out of President Donald Trump and the investigation of him so widened-that caused the dollar to weaken and Asian currencies strengthened.

      • Review : 

        Several global financial institutions have pointed out that the high uncertainty over the Trump government policy is the main reason for the cuts in predictions. The IMF also argues for another reason that the unfavorable start of early 2017, in which first quarter US growth was only 1.4%.

    • MICRO
      • Governor of Bank Indonesia (BI) Agus DW Martowardojo said, BI continues to push the role of sharia economy in supporting the growth and resilience of national economy. This was conveyed by Agus in a panel discussion entitled "The Role of Sharia Economics in the New Flow of Indonesian Economy" in Jakarta, today. This activity was carried out with the Indonesian Ulema Council (MUI) and was expected to produce a real framework that could be implemented for the progress of the Indonesian economy. Sharia economy is considered one of the answers to the economic problems that still exist in Indonesia, which is social inequality. "Sharia economic system is an economic system that upholds justice, togetherness, and balance in the management of resources," said Agus, Monday (7/24/2017). Sharia economy is also equipped with the mechanism of distribution of property to the poor and encouragement of public participation to contribute to the public interest, so that is inclusive.

      • Financial Services Authority (OJK) cooperates with School of Business and Management of Institut Teknologi Bandung (SBM ITB) in order to increase literacy program and financial inclusion. The joint statement was signed by the Head of LK Department of Literacy and Financial Inclusion of OJK Agus Sugiarto and SBM ITB Dean Sudarso K. Wiryono at SBM ITB Bandung Campus on Monday. Members of the Board of Commissioners for Education and Consumer Protection, Kusumaningtuti S. Soetiono, on the occasion said that the scope of cooperation between OJK and SBM ITB covers several things, which are the establishment of Literacy Research Center and Financial Inclusion (PRLIK), the holding of public lectures on a regular basis. Plus the implementation of the Focus Group Discussion (FGD) and the implementation of Literacy Review and Financial Inclusion as well as the Outreach program through thematic Training of Trainers for the students of Real Work Lecture and Training of Communities financial planning for the community. "As a first step, in the near future OJK and SBM ITB will inaugurate Literacy Research Center and Financial Inclusion (PRLIK)," he said in a written statement in Jakarta.

      • Review :

        With the cooperation and implementation that will be implemented in the near future, it is expected that participation and support of academic community will be greater in supporting the realization of OJK policy and work program that more specific, targeted and have multiplier effect for public welfare in order to increase literasi and financial inclusion Indonesian society.

      • PT Bank Mandiri Tbk (Bank Mandiri) supports the development of Village Owned Enterprises (BUM Desa) in Karawang, West Java. This step is the effort of Bank Mandiri in improving the role as a development agent for economic equity throughout Indonesia. "For that, Bank Mandiri targets to establish partnerships with approximately 200 BUM Desa in West Java Region by the end of 2017, from 56 BUM Desa which have become partners at this time," said Regional CEO of Bank Mandiri West Java Iman Gunawan in Jakarta, Thursday / 7/2017). Related to this, the signing of a partnership agreement between the Government of Karawang and Bank Mandiri. Under the agreement, both parties will develop BUM Desa in the form of strengthening the quality of human resources that will manage BUM Desa, and empower BUM Desa by making it as the agent of Digital Financial Service (LKD) and branchless banking.

      • Ministry of Village, Development of Disadvantaged Area, and Transmigration (Kemendes PDTT) cooperate with PT Bank Negara Indonesia Tbk (BNI) in order to develop superior product of disadvantaged areas. "It is implemented through the integrity of capital and marketing program of superior products of disadvantaged regions," said Director of Local Economic Development Kemendes PDTT, Muhammad Nur in the release, Jakarta, Tuesday (19/07/2017). This Sub-Directorate of Investment and Capital as one of Sub Directorate of Local Economic Development at Directorate General of PDT has the main duty to seek the development of investment and capital in disadvantaged areas. In addition, also scheduled the implementation of coordination with stakeholders both government and private agencies associated with the development of investment and capital at central and regional.

      • Review : 

        With this partnership, Ministry of Village wants to facilitate MSMEs, business groups / farmer groups in terms of access to capital, guidance and assistance of business management in districts of disadvantaged regions.

Disclaimer : This document is for informational purposes only and obtained from a variety of reliable sources, but is not a guarantee the accuracy or completeness and should not be relied on completely. The above conditions may be changed at any time. Forbidden to rewrite anything without written permission from The East Java Regional Development Bank