Coinciding with the celebration of the Republic of Indonesia’s 77th Independence Day, Bank Indonesia issued new banknotes that embody the spirit of nationhood, nationalism, and sovereignty to foster optimism for national economic recovery. The 2022 issuance of banknotes consists of Rp100,000, Rp50,000, Rp20,000, Rp10,000, Rp5,000, Rp2,000, and Rp1,000 banknotes (Figure 8).
The policy objectives and the policy execution framework are known to all policy actors. An open exchange of views and information between individual policy actors can assist the overall outcome if this enhances an understanding of the objectives and strategies to pursue them. However, there cannot be any scope for an active co-ordination of fiscal and monetary policies.