Regarding The Bankruptcy Of Silicon Valley Bank, Jokowi: We Must Be Careful

President Joko Widodo at the Ministry of Industry's P3DN event (Photo: Screenshot of the Ministry of Industry's Youtube)

JAKARTA - President Joko Widodo (Jokowi) opened his voice regarding the bankruptcy of a bank from the United States, namely Silicon Valley Bank (SVB), a few days ago.

Jokowi emphasized that all parties must be careful in dealing with the impact of the bank's bankruptcy.

"We knew only three days ago that unexpected things had appeared, there was a bankruptcy in America (SVB). Everyone was horrified as soon as a bank went bankrupt. Therefore, we must be careful," Jokowi said at the opening ceremony Business Matching of Domestic Products in Jakarta was monitored online, Wednesday, March 15.

According to him, currently, all countries are monitoring the domino effect of SVB's bankruptcy on their country's economic condition.

"All countries are currently waiting for the domino effect to go where, therefore we are careful," he said.

Regarding this incident, Jokowi also reminded all parties that the global crisis is still a serious threat. Global uncertainty, he said, also raises risks that are difficult to predict and quantify.

"Therefore, everyone must work hard to prevent our country from existing global threats and risks," he concluded.

As previously reported, a bank from America, Silicon Valley Bank (SVB) went bankrupt. SVB was forced to collapse or go bankrupt after 48 hours of experiencing a capital crunch on Friday, March 10th.