March 10, 2020 / 3:57 AM / in a month

Indonesia readying measures to stabilize financial markets - finance minister

FILE PHOTO: Indonesia's Finance Minister Sri Mulyani Indrawati attends the World Economic Forum on ASEAN at the Convention Center in Hanoi, Vietnam September 12, 2018. REUTERS/Kham

JAKARTA (Reuters) - Indonesia Finance Minister Sri Mulyani Indrawati said on Tuesday that authorities are prepared to use all measures they implemented during the 2008 global financial crisis to stabilize financial markets.

The options include buying back government bonds, she told reporters.

“We will guard the market mechanism so its integrity remains intact, while preventing excessive profit taking and excessive speculation in this abnormal situation,” she said.

She said the recent dive in global markets due to plunging oil prices and coronavirus fears had been “extraordinary” and said the government will move to prevent it from hurting Indonesia’s economy.

Reporting by Tabita Diela; Writing by Fransiska Nangoy; Editing by Kim Coghill

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