Word: sukarno
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Dates: during 1950-1959
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President Sukarno apparently believes that a government that prints money can also take it away. Last week, faced by skyrocketing inflation that had already run the dollar value of the rupiah to 155 on the black market (against the official rate of 11.4 rupiahs to the dollar), Sukarno demanded action from his Finance Ministry...
...seized for obligatory long-term loans to the government, and banks were closed for two days to straighten out their accounts and report to the government. A new exchange rate of 45 rupiahs to the dollar was proclaimed. All this was done to the accompaniment of denunciations by Sukarno of "vulture capitalists." Added he: "Whoever scoops up wealth at the expense of the public, whoever disrupts the public economy, will be arrested, will be taken to court, will be punished severely, and if necessary will be sentenced to death...
...powerful Chinese community, numbering about 2,500,000 and controlling much of the Indonesian economy, was sure that Sukarno's drastic measures were directed against it. The public seemed to like the idea of soaking the rich and the alien, while leading newspapers agreed that at least something drastic had to be done. But as business, with no capital to operate, ground to a standstill, the first reaction to Sukarno's bold move was stagnation and frustration...
...home. He had been to Egypt, India, Indonesia, Japan, Yugoslavia, Pakistan, Ceylon, Iraq and the Sudan for average stays of three to five days, and he had worked as hard as a man could at his boondoggle. He dined with Nehru, got photographed with Nasser, talked with Sukarno, Tito, Pakistani President Mohammad Ayub Khan. His message everywhere was "positive neutralism," but it always came out as neutralism against...
Returning from a 68-day world jaunt a month ago to find his country an economic mess and in political disarray, President Sukarno of Indonesia surrendered to army pressure by reviving the dictatorial 1945 constitution and appointing to his powerful new "inner" Cabinet not a single Communist Party member (TIME, July 20). Last week the Communists, who still claim 1,500,000 members, got another slap. On the very day that their newspaper Harian Rakjat (People's Daily) announced the convening of their big sixth national congress next week, Army Chief of Staff Abdul Haris Nasution ordered that...