Indonesia

March 2005 | Risk Summary

Indonesians have staged protests against rising fuel prices in a dozen cities across the archipelago. President Susilo Bambang Yudhoyono's government raised the retail price of fuel by an average 29% from March 1 in a bid to rein in fuel subsidies, which reached IDR59.2trn (US$6.3bn) in 2004, four times higher than the planned IDR14.6trn. Rising fuel prices have often led to violent protests in Indonesia but, this time, the student-led demonstrations were mainly peaceful. The absence of violence will, we believe, boost the confidence of Yudhoyono's government to press ahead with economic

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