Jakarta – Bank Indonesia (BI) has urged members of the House of Representatives' Commission XI overseeing financial affairs to start debating the draft law on redenomination – the elimination of three zeroes from the Indonesian currency.
"The redenomination bill was included in the national legislation program in 2013. We want it included again in the 2017 national legislation program," said BI Governor Agus Martowardojo.
Agus' statement was made during the focus group discussion (FGD) at the House compound on Monday, attended by lawmakers, who represented their respective political parties, Commission XI leaders and representatives of the central bank.
Before a bill is deliberated by the House, it has to be included in the annual national legislation program (Prolegnas). The bill has not been included in the 2017 Prolegnas.
Agus claimed that during the discussion on Monday, all parties agreed on the importance of reviving the discourse on the rupiah redenomination, saying that the Indonesian economy was strong enough to start carrying out the redenomination. Therefore, Agus said, he would talk with President Joko "Jokowi" Widodo and relevant ministers to discuss the issue.
He hoped the House would insert the redenomination bill into the Prolegnas so that it could be immediately deliberated. "We hope to have the redenomination bill included in the legislative program. It only consists of 17 articles," Agus added. (bbn)