JakartaPost-Mar 17, 2023
President Joko “Jokowi” Widodo has urged regional administrations in the country to wean themselves off foreign payment networks like Mastercard and Visa and start using credit cards issued by domestic banks to shield any transactions from possible geopolitical fallout that could disrupt economic transactions. Jokowi said that the war in Ukraine with the attendant economic sanctions imposed by the United States could create problems as economic tools, including payment systems, could be used against countries perceived to have any involvement in the conflict. “Be very careful. We must remember the sanctions imposed by the US on Russia. Visa and Mastercard could be a problem,” President Jokowi told a national meeting to promote the use of Indonesian-made products and services. Jokowi said that the use of homegrown credit cards issued by local banks could boost the country’s independence in its financial transactions. In the same speech, Jokowi also urged the National Police and the Indonesian Military to procure goods and weapons from local producers and manufacturers. “We can totally understand if we have to import jet fighters. But for bullets, guns or food rations for soldiers, these are things that we can produce locally,” Jokowi said. Over the past few years, Jokowi has been forthcoming with his brand of economic nationalism, which permeates much of his domestic agenda and foreign policy. Read more at:
