The GIC’s efforts to promote such a dialogue have been especially timely as the world economy continues to wrestle with the consequences of a financial crisis and a severe global recession. The GIC’s convening of central bankers, policymakers, and business leaders from different nations and different industries has created opportunities to leverage knowledge and experiences in these challenging times.
Last year, bank lending grew by 25% dominated by productive loan such as investment loan (36%) and working capital loan (24%). Despite this encouraging progress, the ratio of bank credits to GDP in Indonesia is still very low, only standing at 30%, well below other countries such as Malaysia, Thailand and China, which ratio has reached above 100%.