Rich Indonesians wary of Prabowo’s policies send wealth overseas


- Photo: Antara file

JAKARTA: Wealthy Indonesians are shifting hundreds of millions of dollars offshore amid mounting concerns over President Prabowo Subianto’s (pic) fiscal discipline and the country’s economic stability.

Gold and real estate are two popular havens although a third, less traditional, pocket has emerged: cryptocurrencies - in particular Tether Holdings SA’s stablecoin USDT, which is designed to maintain a 1:1 peg to the US dollar. 

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Aseanplus News

Myanmar's rebuild stutters year after deadly quake
Address root causes of Middle East conflict, Malaysia says at UNHCR meet
Cambodia court upholds 14-years jail for journalists over border photo
Boy, 7, is youngest professional rally car driver in China, starting race journey at age 1
K-idol Heeseung ‘a bit sorry’ after splitting from Enhypen
Visa-free travel, rising foreign visitors boost luxury hotel growth in China
Laos delivers emergency aid after over 2,000 households hit by rare hailstorm in Vientiane
Stocks slide, oil gains with Mideast ceasefire prospects centre stage
Foul odour leads to discovery of three bodies in Merbok home
South-East Asia revisits nuclear power plans for AI data centres as Iran war disrupts energy supplies

Others Also Read