Kedaulatan Negara Jangan Tergadai

Kita semua ingat pada penghujung Januari 2012 bahwa negara Jerman mengeluarkan proposal atas nama Masyarakat Ekonomi Eropa (MEE) kepada negara Yunani yang mengalami kesulitan ekonomi dalam negerinya sehingga “sovereign debt” atau surat hutang negara mereka berstatus default. Proposal yang bocor ke hampir seluruh media di Eropa waktu itu menggegerkan politik masing-masing anggota MEE. Karena proposal itu berisi kesediaan MEE (dalam hal ini Jerman dan Perancis) bersedia memberi dana talangan atau “bail out” kepada Yunani asal segala pengeluaran dan penerimaan atau budget negara Yunani sepenuhnya akan di control oleh MEE (atau kedua negara tadi).

Yunani waktu itu secara resmi mengeluarkan sikap bahwa Yunani menolak proposal tersebut karena ini menyangkut Kedaulatan Negara yang tidak bisa ditawar, tambahan pula proposal itu juga memancing rasa nasionalisme yang tinggi di negeri ini. Tapi Pemerintah Yunani berada di persimpangan jalan antara menjaga kedaulatan negerinya dan menerima bail out. Kalau tidak diterima dana talangan itu maka perekonomian Yunani akan bertambak kolap, dan demonstrasi mahasiswa, buruh, guru, dokter, para pensiunan dan sebagainya akan bertambah marak dan mengganggu kestabilan negeri itu. Kalau diterima, maka kedaulatan negaranya untuk mengatur pendapatan dan pengeluaran negaranya sepenuhnya di “atur” oleh negara lain.

Krisis Yunani dimulai pada tahun 2009, sebagai akibat dari krisis keuangan global tahun 2008 yang dimulai dengan kolapnya perekonomian AS karena “Subprime Mortgage”. Sejak lama pemerintah Yunani di jaman pemerintahan George Papandreou yang dipilih tahu 2009 di ketahui bahwa pemerintah sebelumnya meninggalkan deficit anggaran sebesar 6% dari GDP nya. Namun pada kenyataanya deficit itu adalah lebih tinggi yaitu 12.7% dari GDP.

Pengumuman resmi tentang sebenarnya angka deficit itu mengejutkan para investor yang memiliki saham-saham hutang pemerintah Yunani. Misalkan Perancis, Inggris dan Jerman memiliki lebih dari USD$ 56 milyar saham berupa surat hutang Yunani. Akhirnya pasar modal di Eropa dan di dunia mulai menurun confidence atau kepercayaan pada surat berharga atau saham pemerintah Yunani dan di anggap default atau tidak mampu membayar hutang pada para investor. Efek domino terjadi sampai sekarang, negara-negara anggota MEE satu demi satu berguguran perekonomiannya misalnya Irlandia, Spanyol, Itali dan di khawatirkan merembet ke negara anggota yang ekonomi besar seperti Jerman dan Perancis.

Pelajaran dari Yunani ini, menjadi pelajaran berharga bagi Indonesia yang pernah berhutang pada banyak negara, dan lembaga keuangan dunia seperti IMF dan Bank Dunia. Semua kebijakan ekonomi Indonesia harus “tunduk patuh” pada negara yang memberi hutang. “No Free Lunch” begitu kalimat yang umum kita dengar yang bermakna tidak ada sesuatu yang gratis atau Cuma-Cuma itu.

Hutang luar negeri Indonesia dulu pernah mencapai sekitar USD 145 milyar dan Indonesia masih untung tidak seperti Yunani, karena bisa membayar hutang itu dengan baik. Sekarang hutang luar negeri Indonesia naik menjadi sekitar USD 180 milyar. Saya sering menulis angka hutang ini dihadapan para mahasiswa saya, misalkan 180 milyar itu angka ’0′-nya sembilan yaitu: 180.000.000.000, dan ini belum US dolar, saya katakan pada mahasiswa kalau kita patok 1 US dolar sama dengan Rp 10.000 (supaya gampang perkaliannya), maka angka hutang itu terlihat: Rp. 1.800.000.000.000.000!. Lalu saya suruh mahasiswa membacanya. Sebagian besar komat-kamit tidak bisa menyebutkannya.

Memang Presiden SBY pernah menjelaskan didepan para wartawan bahwa meskipun hutang luar negeri kita itu naik, akan tetapi rasionya terhadap PDB (Produk Domestik Bruto) menurun. Beliau menjelaskan benar bahwa hutang luar negeri kita menjadi Rp 1.816 trilliun tahun 2011, tapi PDB kita Rp 7.222 trilliun. Jadi rasio hutang terhadap PDB kecil. Dibanding sebelumnya rasio hutang kita hampir mencapai 50% dari PDB.

Akan tetapi, meskipun angka hutang luar negeri yang meningkat itu masih dianggap “Aman”., ada baiknya bangsa ini tidak terperangkap dengan mindset seperti itu, karena apapun namanya hutang itu maka persoalan Kedaulatan Negera harus juga diperhitungkan. Dan lagi pula tidak ada negara manapun di dunia ini yang kaya karena hutang.

SUMBER berita.plasa.msn.com
Oleh: Ahmad Cholis Hamzah, MSc*)
 *) Alumni University of London, dan Universitas Airlangga dan sekarang dosen di STIE PERBANAS Surabaya.

Bubur Ayam After Midnight in Jakarta

It’s a rainy weeknight in Central Jakarta and the streets are dim and wet, slashed by the occasional passing motorcycle. The cafes and restaurants are closing their doors and even the street stalls are running out of food. There’s only one place to go: The steps of Pasar Hias Rias Cikini.

The entrance to a shopping plaza by day, the steps are turned into an eatery by night, serving up steaming hot bowls of bubur ayam (chicken porridge), the perfect comfort food for drizzly weather. Bubur ayam is often eaten for breakfast, but here it is served as a late-night snack between 9 p.m. and midnight, or later on weekends.

If you go for the complete meal, here’s what you can expect: A generous serving of rice porridge with chunks of fried Chinese cakwe bread, topped with shredded chicken, a runny egg, a scattering of bitter emping crackers, a spoonful of bright sambal and a tightly wound bundle of liver and entrails known as hati ampela . As if this wasn’t enough flavor for one bowl, each table provides a basket of additional condiments, including powdered white pepper, extra chili sauce and both sweet and salty soy sauce.

The bubur ayam here is pricier than some, at Rp 16,000 ($1.80) for all the trimmings, but the loyal following during the week and crowds on weekends show that most customers find the price is worth it. Then there is the added bonus of live music while you eat.

Musician Ibe Manuputi has been playing here most nights for the past three years. Armed with a repertoire of hundreds of songs, he sets up his keyboard on the plaza steps, ready to play late into the night.

“I can play a huge variety of songs, whatever people want to hear,” he says. “I only have to hear a song a few times before I get it.”

Ibe downloads midi backing tracks from the Internet and improvises accompaniments to play over the top. For more than a year, he has been joined at the eatery by 20-year-old singer Tiwi. He jokes that she’s his girlfriend.

“I’m not your girlfriend,” she says, with that look that young women reserve for their embarrassing fathers.

Tiwi is a big Whitney Houston fan, and has uploaded plenty of tribute covers to the singer on YouTube. But she’s ready to sing anything people want to hear.

“After she passed away recently, there have been so many people requesting songs by Whitney,” Tiwi says. “But I can sing anything — guys’ or girls’ parts — Ibe just brings it to the right pitch on the keyboard.”

Seated cross-legged on bamboo mats covering the plaza steps, or at red plastic stools by the roadside, customers can be seen hunched over their hot meals watching Ibe and Tiwi play. The synthesized beats echo across the damp pavement, with all the melancholy of cheery music in a quiet place.

Server Adi says the place is much more lively on weekends.

“Friday, Saturday, it can go all night,” he says. Families and friends gather for birthday parties, sometimes even singing and dancing along to the music. Anyone who wants to sing is welcome to take over the mic.

Adi and the other servers dash up and down the market steps with bowls of food, expertly slipping off their shoes as they step onto the mats. The kitchen is a simple set-up by the curb, sheltered behind a kaki lima food cart. There are rice cookers bubbling away full of porridge, bowls swimming with raw eggs and fresh sambal, and chicken carcasses strung up behind the glass. Guavas, starfruit and avocados are stacked ready to make juice.

The staff here are all male, and young. They laugh and joke in their uniforms, shoving one another out of the way in the makeshift kitchen. When there’s little to do, they’ll sing along to the music, or even take the mic themselves.

Aside from the fact that these young guys can throw together a mean bowl of bubur ayam, it’s the friendly atmosphere that keeps people coming back.

“I used to eat here all the time with my friends,” says singer Tiwi. “They used to encourage me to get up and sing. Now I’m here five nights a week.”

Location:
Bubur ayam at Pasar Hias Rias Cikini
Jl. Cikini Raya No. 90
Central Jakarta
From 9 p.m.

SUMBER thejakartaglobe.com 
Catriona Richards | April 04, 2012

Word on the Street: Indonesians Weigh in on Fuel Hikes

Late last Friday, the House of Representatives rejected the government’s push to increase the price of fuel following a week of protests in cities across Indonesia.

Instead of the government’s place to increase the price of low-octane Premium from Rp 4,500 to Rp 6,000 (50 cents to 65 cents), lawmakers agreed to a formula that will only allow a price increase if the world oil price surges above the price presumed in the national budget.

Economists say the rise in prices of goods and services in recent weeks can be linked to the now-redundant fuel price plan, with some sellers factoring in higher costs and others merely seeking to exploit public expectations.

The Jakarta Globe spoke to four residents of the capital to find out how they see the issue.

Imam Safii, 45, public minivan driver

I’m not sure whether I should feel glad or not about the government delaying the increase to the fuel price. I mean, they will do it eventually anyway. As a citizen, I think all we can do is obey whatever the government has decided. If they say the fuel price should go up, then we follow it. If they say it stays, well, that’s good.

However, I do think that a fuel price hike is unavoidable. This will happen sooner or later, and take place regularly. I think it is a bit funny that the price of drinking water per liter is almost the same as the price of a liter of fuel.

For someone like me, and possibly for many people out there, the price of fuel or how much it increases doesn’t matter. What is more concerning is that earning a living should not be this difficult.

I make around Rp 80,000 ($9) a day. I used to be able to send Rp 1.5 million to Rp 2 million to my family each month, but now I consider myself lucky if I can send them Rp 700,000. I don’t how it could happen, perhaps because there are more and more angkots [public minivans] allowed to operate.

I really think there should be more jobs available. I need money to feed my wife and three children. But things just get harder each day.

Andi Husniyati Malarangeng, 60, retired civil servant

I believe that whatever decision is taken by the government is for the sake of all the people of Indonesia. There is no way they would intentionally put us in a bad condition. The government has people who know what’s best for our economy.

Regarding the fuel price hike, I see it as something that actually needs to take place in accordance with the world economy. World oil prices have increased since last year, so there is no way Indonesia can avoid increasing the fuel price. How would that be possible?

I know it is hard for many people, including me, but I believe we will be able to adjust to it later on. It’s not like it has never happened before. We were always able to adjust to the increase, although it took time.

What I think the government should have done was explained the increase and helped people understand that fuel prices will always rise — it’s something that we can’t avoid. They should have anticipated the protests.

The subsidized fuel policy was good, but it didn’t quite reach the target. What I think the government should focus on next ensuring that each of their programs reach their goal.

Muchlis Bahar, 20, university student

In my opinion, the government’s decision to postpone the fuel price hike will subdue the anger of the students protesting and the people of Indonesia in general. Now we have the chance to see how things go in the next six months.

I think it is actually time to increase the fuel price, considering that the world oil price has increased for some time. Fuel prices in other countries are much higher than prices here.

The anger and protests might have been the result of the subsidy policies themselves. We are so used to being helped that once that help is taken from us, we are unable to become independent. It is understandable because other prices will also increase, and it leaves us to worry whether we will be able to adjust to the changes or not.

Farida Machdar, 72, housewife

For a housewife like me, I think it is good that the government delayed the fuel price hike so we can adjust to the increase. Apart from that, I understand that the government will need to increase it, regardless. We just feel that we are not ready at this moment.

I don’t know if it is possible, but I really wish the increase would happen gradually. For example, if the increase is Rp 1,500; they shouldn’t do it all at once. Make it little by little. This will help us adjust. The amount of the planned increase, Rp 1,500, is enough to make the prices of other goods rocket upward. The prices of basic needs have already gone up because vendors have raised their prices to adjust in anticipation, even before the decision was made.

I can under-stand if people were angry and felt the need to protest, and when things like this happen, they tend to destroy things and run amok. Having seen this, the government should be able to anticipate this reaction the next time they try to do something like this.

SUMBER thejakartaglobe.com

Identifikasi Modals :

• This will happen sooner or later, and take place regularly. =  uses : 100% certainty

• I used to be able to send Rp 1.5 million to Rp 2 million to my family each month  =  uses : Repeated action in the past  
• I used to be able to send Rp 1.5 million to Rp 2 million to my family each month  =  uses : Ability
• They should have anticipated the protests. =  uses : Advisability  
• The anger and protests might have been the result of the subsidy policies themselves. =  uses : Less than 50% certainty
• I can under-stand if people were angry and felt the need to protest, and when things like this happen  =  uses : Ability/possibility 

contoh bab 1 - PI

Pendahuluan

Sebagai lembaga intermediasi antara pihak-pihak yang memiliki kelebihan dana dengan pihak-pihak yang memerlukan dana, diperlukan bank dengan kinerja keuangan yang sehat, sehingga fungsi intermediasi dapat berjalan lancar. Beberapa penelitian tentang perbandingan kinerja bank pada industri perbankan yang didasarkan pada rasio-rasio dari laporan keuangan perbankan pernah dilakukan sebelumnya. Antara lain adalah penelitian mengenai perbandingan tingkat efisiensi pada industri perbankan yang dilakukan dengan melakukan pengujian empiris terhadap tingkat efisiensi antara bank pemerintah, bank swasta nasional dan swasta asing serta bank publik. Rasio-rasio yang digunakan dalam penelitian tersebut terdiri dari Return on Assets, Profit Margin dan Return on Equity. Hasil penelitian menunjukkan bahwa bank publik mempunyai tingkat efisiensi di atas rata-rata seluruh bank, sedangkan tingkat efisiensi bank pemerintah dan bank swasta nasional secara keseluruhan berada di bawah rata-rata seluruh bank. (Ventje, 1993)

Di Indonesia pernah juga dilakukan penelitian terhadap efisiensi perbankan dengan menggunakan pendekatan frontier economic. Variabel independen dalam penelitian tersebut adalah total biaya perbankan, sedangkan variabel dependennya antara lain adalah demand deposit, saving deposit, time deposit, loan, ratio profit per jumlah tenaga kerja dan ratio profit per modal. Hasil penelitian tersebut menunjukkan bahwa perbankan Indonesia secara umum menjadi makin efisien setelah adanya deregulasi 1988. (Goeltom, 1997) Tujuan penelitian ini adalah menganalis perbandingan kinerja keuangan antara bank devisa dan bank non devisa.

1.1 Latar Belakang
Fungsi akuntansi yang penting adalah mengumpulkan dan melaporkan informasi akuntansi yang menunjukan posisi keuangan dan hasil-hasil operasi suatu bank. Data yang dilaporkan dalam akuntansi keuangan yang bersifat historis
yaitu mengenai kejadian yang telah lewat. Tujuannya adalah memberikan
gambaran bank secara menyeluruh. Namun demikian, dalam laporan tersebut perlu dilakukan interpretasi atau analisa untuk mengetahui keadaan dan perkembangan finansial bank sesuai dengan kebutuhan dari pihak-pihak yang berkepentingan terhadap bank tersebut. Laporan keuangan dipersiapkan atau dibuat dengan maksud untuk memberikan gambaran atau laporan kemajuan ( progres report ) secara periodik yang dilakukan pihak manajemen yang bersangkutan. Laporan keuangan merupakan alat yang sangat penting untuk memperoleh informasi sehubungan dengan posisi keuangan dan hasil-hasil yang dicapai oleh bank yang bersangkutan. Data keuangan tersebut akan lebih berarti bagi pihakpihak yang berkepentingan apabila data tersebut diperbandingkan untuk dua periode atau lebih dan dianalisa lebih lanjut sehingga dapat diperoleh data yang akan dapat mendukung keputusan yang diambil.

Bagi pihak bank sendiri dapat diketahui kelemahan-kelemahan dari bank serta hasil-hasil yang telah dicapai, dianggap telah cukup baik. Sedangkan bagi pihak luar berguna bagi keamanan kreditur dan investor, misalnya analisa keuangan suatu bank berguna untuk keamanan kreditur itu sendiri. Dan untuk para investor analisa keuangan dapat berguna untuk menentukan kebijaksanaannya dalam menentukan modalnya.

Berdasarkan uraian tersebut diatas mendorong penulis untuk memilih
judul “ PERBANDINGAN KINERJA KEUANGAN BANK DEVISA (Studi Kasus Bank Mandiri, Bank Central Asia, Bank Negara Indonesia, Bank Danamon, Bank Dki, Bank Mega, Bank CimbNiaga, Bank Victoria, Bank Permata periode tahun 2005-2007)”

1.2 Rumusan Masalah
Berdasarkan uraian latar belakang masalah di atas, maka penulis dapat merumuskan masalah sebagai berikut :
1. Apakah terdapat perbedaan rasio ROA, ROE dan LDR dengan cara melakukan uji hipotesis ?
2. mencari bank devisa mana yang mempunyai kinerja keuangan terbaik berdasarkan laporan keuangan dengan rasio ROA, ROE, dan LDR ?

1.3 Batasan Masalah
Disebabkan banyaknya faktor yang mempengaruhi kinerja sebuah bank, agar penulisan ini tidak menyimpang dari pokok bahasan dan lebih terperinci, maka dalam penulisan ilmiah ini penulis membatasi permasalahan sebagai berikut:
1. Likuiditas bank diukur dengan menggunakan rumus Loan to Deposit Ratio (LDR) sedangkan Rentabilitas diukur dengan menggunakan rumus Return on Asset (ROA) dan Return on Equity (ROE).
2. Data yang digunakan dalam analisis dan pembahasan masalah adalah data laporan publikasi tahunan bank periode 2005-2007.

1.4 Tujuan Penulisan
Tujuan yang ingin dicapai pada penulisan ilmiah ini adalah :
1. Untuk mengetahui bank devisa manakah yang mempunyai kinerja keuangan terbaik berdasarkan laporan keuangan dengan rasio ROA, ROE, dan LDR.
2. Untuk mengetahui apakah terdapat perbedaan kinerja ROA, ROE, dan LDR dengan cara uji hipotesis.

1.5 Manfaat Penelitian
Manfaat yang didapat dari penelitian ini :
1. Manfaat Praktis
penelitian ini dapat memberikan gambaran mengenai kinerja keuangan yang terdapat pada laporan keuangan bank dengan melihat besarnya rasio-rasio Rentabilitas dan Likuiditas serta memberikan informasi mengenai bank devisa yang mempunyai kinerja keuangan terbaik
2. Manfaat Akademis
Penelitian ini dapat menambah pengetahuan mengenai kinerja keuangan bank dan memberikan informasi mengenai bank devisa yang mempunyai keuangan terbaik jika dilihat dari besarnya Rasio Rentabilitas dan Likuiditas.

1.6 Metode Penelitian
Dalam penelitian ini metodelogi yang digunakan penulis adalah uji hipotesis dan teknik analisis yang bertujuan untuk mengetahui apakah terdapat perbedaan kinerja keuangan dan Bank Devisa mana yang mempunyai kinerja keuangan terbaik pada periode tahun 2005 – 2007.
1.6.1 Data
Variabel yang diguanakan penulis adalah kinerja keuangan bank yang tercatat di Bank Indonesia. Indikator – indikator yang digunakan untuk menilai kinerja bank adalah rasio – rasio keuangan.

1.6.2 Metode Pengumpulan Data
Dalam pengumpulan data penulis menggunakan data sekunder. Sumber data diperoleh penulis dari 9 Bank Devisa. Sampel yang digunakan adalah laporan keuangan periode 2005 – 2007 yang berupa neraca, laporan laba rugi yang diperoleh melalui website bank.
1.6.3 Objek Penelitian
Penulis akan melakukan penelitian terhadap 9 Bank Devisa yang tercatat di Bank Indonesia.
1.6.4 Hipotesis
uji hipotesis yang diajukan :
Ho: Tidak terdapat perbedaan kinerja keuangan baik dalam Return on Asset, Return on Equity, maupun Loan to Deposit Ratio antara Bank Mandiri, Bank Central Asia, Bank Negara Indonesia, Bank Danamon, Bank Dki, Bank Mega, Bank CimbNiaga, Bank victoria, dan Bank Permata.
H1: Terdapat perbedaan antara Return on Assets pada Bank Mandiri, Bank Central Asia, Bank Negara Indonesia, Bank Danamon, Bank Dki, Bank Mega, Bank CimbNiaga, Bank victoria, dan Bank Permata.
H2: Terdapat perbedaan antara Return on Equity pada Bank Mandiri, Bank Central Asia, Bank Negara Indonesia, Bank Danamon, Bank Dki, Bank Mega, Bank CimbNiaga, Bank victoria, dan Bank Permata.
H3: Terdapat perbedaan antara Loan to Deposit Ratio pada Bank Mandiri, Bank Central Asia, Bank Negara Indonesia, Bank Danamon, Bank Dki, Bank Mega, Bank CimbNiaga, Bank victoria, dan Bank Permata.

SUMBER

Borrowers Get Little Joy From BI Reforms

Consumers appear to have missed out on the benefits of a new central bank policy forcing major lenders to publish their prime lending rates.

Evidence shows that there has been neither a decline in the interest rates charged by banks nor has there been a significant increase in the growth of lending.

Instead, banks have used the policy, intended to foster greater transparency and competition, to cut overhead costs and fatten profit margins.

Bank Indonesia in March introduced a requirement for the nation’s 43 largest banks, about a third of the total, to publish rates for creditworthy customers.

Among the lenders are Bank Mandiri, Bank Rakyat Indonesia, Bank Central Asia, Bank Negara Indonesia and CIMB Niaga.

Banks responded to the reform by slashing costs, but banks would not say how many employees were dismissed in their push to curb overhead expenses.

Since the policy came into effect, BI data showed the lending rate was either little changed or increased among the 43 banks.

Wimboh Santoso, a director of banking research and supervision at BI, said the drop in overhead costs should theoretically help the banks reduce the lending rate they charge customers, particularly in lending to manufacturers and for working capital.

“It’s too early to say that the policy has resulted in lowering the borrowing cost to customers,” Wimboh said.

Commenting on the commercial banks’ decision to direct cost savings to bigger margins rather than passing the benefits on to consumers, Wimboh said BI would “scrutinize” it. “If banks lowered the interest rate they could disburse more loans and therefore their revenue would be relatively unchanged,” he said.

Indonesian banks calculate their prime lending rate based on the cost of funds, margin and overhead cost. The cost of funds is the interest banks pay depositors, and the overhead cost measures the efficiency of bank operations. Actual interest rates, however, depend on customers’ risk profile, factoring in their financial condition, business type, age and location.

Since March, the prime lending rate for the corporate sector rose 2 basis points (0.02 percentage point) to 11.03 percent, while for the retail sector, the rate dropped 2 basis points. Meanwhile, for mortgage and non-mortgage loans, the rate climbed by 20 and 26 basis points, respectively. During that time, the BI rate has remained unchanged on 6.75 percent.

The banks have been able to reduce their overhead costs by 40-70 basis points in the first four months of the policy.

“The overhead cost in corporate lending dropped from 3.12 percent in March to 2.6 percent in June,” Wimboh told reporters last week. On a Rp 100 billion ($12 million) loan that means savings of Rp 52 million.

The biggest drop in overhead costs occurred in retail lending — by 70 basis points to 2.75 percent over the same period — as banks cut costs in branches servicing business clients, Wimboh said.

“This policy worked as banks looked at their peers [rate] and said to themselves ‘if they can do that, we can do it too,’ ” Wimboh said.

The policy aimed to encourage transparency and competition among banks and improve efficiency in the country’s banking system. Indonesia’s banking system is known for its inefficiencies, which pushed many to the brink of collapse during the 1998 Asian financial crisis.

“Indonesian banks are far less efficient than banks in other countries,” said Miranda S. Goeltom, a former senior deputy governor of Bank Indonesia. “It’s a good thing that the central bank focuses on improving banks’ efficiency,”

As of mid-August, lending was up 24 percent on a year earlier, but this rate of growth is largely unchanged and only just eclipses the 23.5 percent lending growth target set by BI.

SUMBER

 Evidence shows that there has been neither a decline in the interest rates charged by banks nor has there been a significant increase in the growth of lending.
=  Bukti menunjukkan bahwa tidak terjadi penurunan suku bunga yang dibebankan oleh bank juga belum terjadi peningkatan yang signifikan dalam pertumbuhan kredit.

Since the policy came into effect, BI data showed the lending rate was either little changed or increased among the 43 banks. 
= Sejak kebijakan tersebut mulai berlaku, data BI menunjukkan suku bunga pinjaman yang baik sedikit berubah atau meningkat antara 43 bank.

WTO to rule on marathon Airbus-Boeing aid dispute

A seven-year dispute between aerospace giants Airbus and Boeing comes to a head on Wednesday when the World Trade Organization rules on an EU complaint against US government support for Boeing.

The European Union is appealing against US aid to Boeing, and the WTO was to hand its judgement confidentially to the two parties, the EU representing European aircraft maker Airbus and the US government for Boeing.

The conclusions might not, however, be immediately known, trade sources said.

"This confidential report will be made public at a later date, hopefully by mid-March" a trade source told AFP on Tuesday.

The date of publication will depend on the number of remarks then submitted by the two parties.

There are two cases lodged with the WTO -- one by Boeing against allegedly illegal subsidies for Airbus and a second by Airbus, which made the same claim against its industry rival.

The EU responded in December to a WTO deadline to say how it intends to comply with the body's ruling to end unfair aid in the battle.

The United States has threatened sanctions as it claims the EU has not only failed to comply with a WTO ruling against subsidies to Airbus but also had even provided it with new aid.

"The competitors are not going to restrain their funding systems but, on the contrary, are following every single move here to learn from what they see," an EU official said

"The only way ultimately to solve this case will be through political discussions at the highest level," he said.

In March last year the WTO partly upheld an EU complaint against US government support for Boeing, saying that billions of dollars in state aid for the aircraft maker amounted to illegal subsidies.

Both the EU and US claimed victory, with Brussels slamming Washington's subsidies, while the United States hailed the WTO for finding that state aid for Boeing was far less than that paid to European rival Airbus.

SUMBER

The United States has threatened sanctions as it claims the EU has not only failed to comply with a WTO ruling against subsidies to Airbus but also had even provided it with new aid.

= Amerika Serikat telah mengancam sanksi karena klaim Uni Eropa tidak hanya gagal untuk mematuhi keputusan WTO terhadap subsidi untuk Airbus tetapi juga bahkan disediakan dengan bantuan baru

Both the EU and US claimed victory

= baik Uni Eropa dan Amerika Serikat mengklaim kemenangan