{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='INDONESIA: ASEAN MEMBERS MEET TO DISCUSS ECONOMIC SLUMP' data-url='/boclips/videos/5c54c3b6d8eafeecae163547' data-video-url='/boclips/videos/5c54c3b6d8eafeecae163547' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nINDONESIA: ASEAN MEMBERS MEET TO DISCUSS ECONOMIC SLUMP\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eJakarta, Indonesia, 28 February 1998, Kendari, Sulawesi, Indonesia 22 February 1998 and fileJakarta - 28 Feb1. Wide shot meeting room2. Close shot Malaysian Finance Minister Anwar Ibrahim at meeting3. Cutaway press4. Wide shot meeting5....\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eJakarta, Indonesia, 28 February 1998, Kendari, Sulawesi, Indonesia 22 February 1998 and file\u003cbr/\u003eJakarta - 28 Feb\u003cbr/\u003e1. Wide shot meeting room\u003cbr/\u003e2. Close shot Malaysian Finance Minister Anwar Ibrahim at meeting\u003cbr/\u003e3. Cutaway press\u003cbr/\u003e4. Wide shot meeting\u003cbr/\u003e5. Close shot Indonesian Finance Minister Ma'rie Mohammed \u003cbr/\u003e6. Wide shot ministers on podium\u003cbr/\u003e7. press cutaway\u003cbr/\u003e8. Mid shot ministers on podium \u003cbr/\u003e9. SOUNDBITE (English)  Indonesian Finance Minister Ma'rie Mohammed \u003cbr/\u003e10. Jakarta skyline  \u003cbr/\u003eJakarta - file (22 Jan)\u003cbr/\u003e11. Stock exchange exterior  \u003cbr/\u003e12. Stock exchange lobby\u003cbr/\u003e13. Stock exchange floor\u003cbr/\u003e14. Trading board\u003cbr/\u003e15. Various shots money changers \u003cbr/\u003eKendari, Sulawesi, 22 Feb\u003cbr/\u003e16. Various shots subsidized rice being distributed \u003cbr/\u003eJakarta, 28 Feb\u003cbr/\u003e17. Wide shot press conference\u003cbr/\u003e18. Cutaway audience\u003cbr/\u003e19. SOUNDBITE (English) Indonesian Finance Minister Ma'rie Mohammed \u003cbr/\u003e20. Anwar leaving press conference \u003cbr/\u003e21. SOUNDBITE (English) Malaysian Finance Minister Anwar Ibrahim\u003cbr/\u003e22. Ministers standing at presser\u003cbr/\u003eEnglish/Nat\u003cbr/\u003eSoutheast Asian finance ministers said on Saturday they needed more help from the world's wealthy nations - the United States, Japan and Europe - to enable Asia to recover from its worst economic crisis in decades.\u003cbr/\u003eThe ministers, from  the Association of Southeast Asian Nations, who met in the Indonesian capital Jakarta on Saturday, also discussed the possibility of setting up a supervisory body to keep an eye on the region's turbulent economies.  \u003cbr/\u003eThe nine members of the Association of Southeast Asian Nations came together to discuss ways they could help pull each other out of the regional economic slump which began last year.\u003cbr/\u003eThey are keen to protect and promote trade between ASEAN members which accounts for more than one-hundred-and-50-billion (b) U-S dollars annually.\u003cbr/\u003eMalaysia has proposed a system which bypasses the dollar and allows goods to be traded between ASEAN nations in local currencies.\u003cbr/\u003eThe Philippines has backed the proposal, but Thailand remains sceptical.\u003cbr/\u003eNo firm decision on the issue was reached on Saturday.\u003cbr/\u003eAnother suggestion raised at the meeting was a plan to create a body which would supervise inflation, lending practices and capital movement around the region.\u003cbr/\u003eThat plan was endorsed during November's APEC meeting, and came a step closer to fruition on Saturday.\u003cbr/\u003eDespite all the talk of Asian countries aiding other Asian countries, there were also calls for help from the U-S and Europe.\u003cbr/\u003eThe Indonesian Finance Minister Ma'rie Mohammed called on the United States to encourage more investment in the Southeast Asian region and urged U-S banks to open more lines of credit and provide other assistance to troubled Asian countries.\u003cbr/\u003eHe criticised European countries for what he called a protectionist attitude, and for not doing enough to help Southeast Asian countries in difficulty.\u003cbr/\u003eMa'rie also pledged that his country would work closely with industrialised nations to speed recovery.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"As the other colleagues expressed their concern about Indonesia, we will hand by hand cooperate closely with international agencies - the World Bank, I-M-F, E-D-B and other countries, including G-7 and overcome the situation in the region, including Indonesia.\"    \u003cbr/\u003eSUPER CAPTION: Ma'rie Mohammed, Indonesian Finance Minister\u003cbr/\u003eIndonesia's economy has been the worst hit of the ASEAN nations.\u003cbr/\u003eStock markets in the country have plummeted in recent months.\u003cbr/\u003eAnd with its huge population of over two-hundred million (m), it has had a profound knock-on effect on its neighbours.\u003cbr/\u003eIt is hoped that the 43 billion (b) U-S dollar I-M-F bailout it has received will create favourable conditions for a long-term recovery for the island nation.\u003cbr/\u003eBut the I-M-F loan came attached to conditions stipulating harsh economic reforms in Indonesia, which are bound to be unpopular with local people.\u003cbr/\u003eSoaring food prices have sparked riots and demonstrations across the country. \u003cbr/\u003eHowever, agreements to keep the price of cooking oil and rice low are thought to be having a positive effect.\u003cbr/\u003eOfficials are also hoping to quell the unrest by bolstering the rupiah, which has lost 70 per cent of its value in the past seven months.\u003cbr/\u003eOne immediate remedy could be a currency board, which would fix a value for the rupiah to the dollar.\u003cbr/\u003eThat plan has met widespread international opposition.  \u003cbr/\u003eASEAN members did not want to comment on the plan, and Ma'rie indicated institution of the scheme could still be a long way off.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"To put the currency board into success, needs preparation so that we can build a credible currency bond.\"\u003cbr/\u003eSUPER CAPTION: Ma'rie Mohammed, Indonesian Finance Minister\u003cbr/\u003eThe Malaysian deputy prime minister hinted that other ASEAN states would like to see Indonesia do better, though he noted its reasons for slow movement.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003eQuestion: \"There is a lot of concern about Indonesia backsliding on those issues.\"    \u003cbr/\u003eAnswer: \"There are explanations given in terms of social unrest and poverty, so we have also suggested adequate social safety nets.  But nonetheless, the commitment, the understanding I had from my discussion with the President this morning and the minister of finance during the ASEAN deliberations, I think they are totally committed.\"\u003cbr/\u003eSUPER CAPTION: Anwar Ibrahim, Malaysian Finance Minister and Deputy Prime Minister\u003cbr/\u003eASEAN members will continue to hope for progress here.\u003cbr/\u003eMost of them have large trade interests with Indonesia, and therefore do not expect full recovery to come until the economies of all of the partners in the association have revived.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv 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