KSSK Monitors the Economy Every Day, Official Results Announced Every Three Months

JAKARTA - The Financial System Stability Committee monitors macroeconomic and financial sector developments on a daily basis through virtual coordination. The information is then discussed in layers up to the leadership level of the four member institutions of the KSSK.

Chairman of the Deposit Insurance Agency Anggito Abimanyu said coordination was not only carried out during the quarterly official meeting.

"Virtually, every day there is an update on macroeconomic and financial information," said Anggito at the Presidential Palace Complex, Jakarta, Monday, July 27.

After daily monitoring, the discussion continued through a technical meeting. The KSSK Secretariat, which is composed of representatives from all institutions, also prepared materials for the principal level meeting.

The principal meeting was attended by the Minister of Finance, Governor of Bank Indonesia, Chairman of the Board of Commissioners of the Financial Services Authority, and Chairman of LPS.

"Everything is always updated, upgraded, then delivered to the media every three months," he said.

Anggito did not elaborate on the issue that was the main focus of the KSSK. He only explained that the coordination mechanism was layered, ranging from daily data exchange, technical meetings, to discussions at the leadership level.

The KSSK uses this mechanism to monitor economic and financial sector developments and to coordinate steps between authorities.