Stake attention in this memory
The image is a close-up of a wall display inside the Museum Bank Indonesia, located at -6.138 latitude and 106.815 longitude in West Jakarta, Indonesia. It features two panels of text written in both Indonesian and English, describing the systemic banking crisis that occurred in Indonesia during the 1997-1998 Asian financial crisis. The panel on the left is written in Indonesian, while the right panel is in English. The text explains that the crisis required systemic handling, and the government was forced to become involved. The crisis forced the government to hold a meeting of the cabinet on the economy, finance, development supervision, and production and distribution, which was held on September 3, 1997. The crisis also led to the decision of liquidating the unsound banks and rescuing the sound banks that suffered from liquidity problems. The text mentions that 16 banks were closed down in November. The English text further explains that the measure taken to restore public trust in the banking system eventually failed to meet its objective. The inconsistency in its implementation destroyed public trust even further. The absence of deposit insurance scheme further worsened public trust and bank runs continued to take place. The image also features a dark grey rectangular sign with rounded corners at the top, which contains the words "Resep Tepat, pelaksanaan setengah hati" in white text. This translates to "Good recipe, bad execution". The background wall of the display is a solid red color.
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