Partnership should be based on mutual benefit: Minister Sri Mulyani

Partnership should be based on mutual benefit: Minister Sri Mulyani

Minister of Finance Sri Mulyani Indrawati. (ANTARA/Yudhi Mahatma)

We would be open to criticism and assessment, as it is important to improve ourselves."
Jakarta (ANTARA News) - Finance Minister Sri Mulyani said all forms of partnership with financial agencies should be formed based on good relations and mutual benefit.

However, under the prevailing condition, it would be better if positive psychological form is created and the countrys economy would continue to be managed professionally amid the global condition that shows no signs of improvement.

"It does not mean everything is perfect, but we will seek improvement with professionalism, accountability, and transparency and would continue to create relations with mutual respect," Sri Mulyani said here on Tuesday.

She was commenting on the breaking of all ties between the government and JP Morgan Chase Bank.

"We would be open to criticism and assessment, as it is important to improve ourselves. However, an agency having big name carries big responsibility to create positive psychology instead of misleading," she said apparently referring to the U.S. bank.

She said she hope all governments partners could contribute to maintaining the national economic fundamental through positive and sustainable cooperation.

She said the government has paid good attention to the people and views of agencies having high credibility such as in the issue of tax reform.

"If we think the state budget as a sources of problem, we are not hesitate to make correction as we believe professional, accountable and credible relations are important," she said.

Earlier the Finance Ministry terminated all business partnerships with JPMorgan Chase & Co. after a survey by the bank is considered potential to destabilize the countrys financial system.

The government decided to stop using JPMorgan as a primary dealer and as an underwriter of its sovereign bonds.

Robert Pakpahan, the ministrys director-general for budget financing and risk management told reporters here on Tuesday the research by JP Morgan cast doubt on the quality of the assets of Indonesian companies.

Robert said the result of the research is "very much questionable based on not accurate and credible evaluation."

He said JPMorgan will no longer serve as sales agent for government bonds and as joint lead underwriter for the government global bonds.

Its position as perception bank for tax payments will be replaced by other bank, he added.
(Uu.H-ASG/A014)

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