Indonesia’s rupiah has hit record lows against the US dollar, echoing the 1997-98 Asian financial crisis. The currency’s decline, which began before President Prabowo Subianto’s October inauguration, has worsened by about 8% due to political and economic uncertainties in the country. Prabowo’s controversial policies, such as weakening central bank independence and restricting foreign companies, have shaken investor confidence. Indonesia also faces external pressures, including trade tensions between the US and China. Despite GDP growth, the country’s middle class has shrunk due to inflation and the aftermath of COVID-19, leading to a significant decline in living standards. Analysts are concerned about Prabowo’s economic management during this challenging period.

Pray for economic stability to be restored in Indonesia. Pray for wise counsel and insight for the authorities to tackle the economic challenges (The Holy Bible, Proverbs 8:15).

Pray for divine provision to the families struggling with inflation in Indonesia. Pray for an improvement in the livelihood of the people in the country. (The Holy Bible, Genesis 22:14).

News Source: Aljazeera

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