International News 31/10

October 31, 2024 No. 189

A Delicate Balancing Act: Thailand Navigates Inflation and Growth.

The Bank of Thailand has successfully maintained its inflation target of 1% to 3% for next year, despite government pressure to increase the rate. The Finance Minister and Central Bank Governor have agreed to maintain the target at the current level, while implementing measures to stimulate price increases and economic growth. The Bank of Thailand's Deputy Governor expressed support for the decision, stating that the existing inflation target is appropriate for the coming year. While the central bank views the decision to maintain the target as a strategic success, the government is expected to continue advocating for additional interest rate reductions, following the recent cut, which was the first in four years. The central bank governor emphasized that the rate cut does not signal the commencement of an easing cycle. This decision represents a delicate balancing act between the twin objectives of maintaining price stability and promoting economic growth in Thailand.

Thailand Pertahankan Target Inflasi pada 2025, Sinyal Positif untuk Bank Sentral

 

BRICS Membership: Potential Benefits and Pitfalls for Indonesia.

The Indonesian government is exploring the possibility of joining the BRICS group of countries with the objective of pursuing a more moderate diplomatic approach and a more inclusive international stance. However, this decision could have several impacts, including increased tensions with Western countries like the US and its allies. Ahmad Khoirul Umam, Managing Director of the Paramadina Public Policy Institute (PPPI), has cautioned that Indonesia's potential membership in the BRICS group could give rise to suspicions and strained relations with countries such as the US and Australia, which play a pivotal role in regional security. Furthermore, Wijayanto Samirin, a Senior Economist at Paramadina University, acknowledges that Indonesia's membership in BRICS may have an impact on relations with the US. Nevertheless, Samirin urges Indonesia to seize the opportunity and join BRICS if it will prove advantageous for the country.

Risiko dan Peluang bagi Indonesia Jika Resmi Gabung BRICS

 

Indonesia's Strategic Move: Potential Benefits of Joining BRICS and OECD.
Indonesia is being advised to join two organizations, BRICS and the Organization for Economic Cooperation and Development (OECD), as doing so would bring positive potential benefits to the country. The administration of President Prabowo Subianto has expressed interest in joining the BRICS group, which consists of Brazil, Russia, India, China, and South Africa. Furthermore, Indonesia has been pursuing membership in the OECD since the Joko Widodo administration. According to Wijayanto Samirin, a senior economist at Paramadina University, joining both organizations would be the optimal choice for Indonesia. He notes that there is no formal prohibition against a country joining both BRICS and the OECD, as other countries like Brazil and Thailand have done the same. One advantage of Indonesia joining BRICS would be increased cooperation between BRICS and the OECD.

RI Minat Gabung ke BRICS dan OECD, Lebih Untung Mana?

 

Saudi Aramco Eyes Investment in Vietnam's Oil Sector: A New Era of Collaboration?

A statement from the Vietnamese government revealed that oil giant Saudi Aramco is considering investing in Vietnam's oil refining and fuel distribution sectors. The interest was conveyed during a meeting between Vietnamese Prime Minister Pham Minh Chinh and Saudi Aramco CEO Amin Al-Nasser in Riyadh. Aramco views Vietnam as a promising market and is seeking to expand its collaboration with local partners. However, no details were provided regarding the investment, including the timing and size. At present, Aramco sells crude oil to Vietnam, but has not yet made any direct investments in the country. In a separate development, Aramco and Vietnam Oil and Gas Group (PVN) have entered into a memorandum of understanding for cooperation in oil and gas trade. Saudi Aramco has not yet issued a statement on the matter.

Saudi Aramco Incar Investasi Sektor Penyulingan Minyak dan Distribusi BBM di Vietnam