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Koperasi dan UKM

Pengawasan Koperasi di Perancis Dinilai Sangat Kuat

PARIS, JURNAL IBUKOTA: Koperasi di Perancis tumbuh secara luar biasa dan menjadi salah satu ujung tombak perekonomian nasional. Di negara tersebut, PDB koperasi menyumbang 12% terhadap PDB nasional.  

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Konstruksi & Infrastruktur

Menteri Basuki dan Menteri Sri Mulyani Cek Kesiapan Arena Olahraga di Kompleks GBK

JAKARTA, JURNAL IBUKOTA: Menteri PUPR Basuki Hadimuljono bersama Menteri Keuangan Sri Mulyani meninjau beberapa arena olahraga di Kawasan GBK guna memastikan pekerjaan selesai sesuai target yang akan digunakan pada Asian Games XVIII tahun 2018.

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Global Debt Has Grown by $57 Trillion Since 2008, Posing New Risks to Financial Stability

JAKARTA, JURNAL IBUKOTA.COM: Seven years after the global financial crisis began, debt continues to grow and reach new peaks around the world, posing fresh risks to financial stability. Rather than stabilizing the level of debt, or deleveraging, all major economies today have higher levels of debt in relation to GDP than they had in 2007. In total, global debt has grown by $57 trillion since the crisis, raising the ratio of global debt to GDP by 17 percentage points.

 

 

A new McKinsey Global Institute report, Debt and (not much) deleveraging, examines the evolution of debt in specific sectors of 22 advanced economies and 25 developing countries. The report pinpoints three areas of particular risk to financial stability ahead: the rise of government debt to such high levels in some countries that new ways will be needed to reduce it; the continued rise in household debt – and housing prices – to new peaks in Northern Europe and some Asian countries; and the quadrupling of China’s debt over the last seven years, fueled by real estate and shadow banking. One bright spot is the deleveraging of the financial sector and decline of shadow banking in advanced economies, although non-bank credit remains important, particularly for corporations. The report concludes that to live safely with current levels of debt and avoid future crises, new innovations in how debt is created, managed, and resolved are required. 

 

“The growing debt of the global economy is an unwelcome development seven years after the financial crisis began. It slows the recovery, raises the risk of new crises, and it limits the ability to respond to them. What’s been surprising is the rapid growth of private-sector leverage across a range of economies. China’s debt as a percent of GDP is now higher than the US, Canada or Germany. At the same time, household debt has continued to soar in Northern Europe and in some Asian countries,” says Susan Lund, a partner at the McKinsey Global Institute (MGI).

 

“We must bear in mind that debt remains an essential tool for funding economic growth. But for hundreds of years we have seen repeated financial crises sparked by unsustainable debt. Debt also magnifies the impact of volatility in the economy – and I see no evidence that we are entering a less volatile world.  We need new tools and approaches that can dramatically improve how we manage and use debt to avoid history’s repeating itself,” says Richard Dobbs, London-based director of MGI.

Key findings of the report include:

 

·        Government debt is unsustainably high in some countries and will require new ways of resolving it. Government debt has grown by $25 trillion since 2007. Given current economic fundamentals, MGI projects it will continue to grow in most advanced economies (Greece, Ireland, and Germany are the exceptions). For six of the most highly indebted countries, starting deleveraging would require implausibly large increases in real GDP growth or unacceptably deep reductions in fiscal deficits. Countries may need to consider new approaches to reducing government debt, such as greater government productivity, more extensive asset sales, taxes, and more efficient debt restructuring programs.

 

·        Household debt reaches new peaks in some countries. Only in the core crisis countries—the United States, the United Kingdom, Spain, and Ireland—have households deleveraged. In many other countries, household debt-to-income ratios have continued to rise, fueled by mortgages and rising house prices, and in some cases they exceed the peak ratios seen in the crisis countries before 2008. These include Netherlands, Denmark, Sweden, Canada, Australia, as well as South Korea, Malaysia, and Thailand. One concern for these countries is avoiding property-related debt crises as seen in 2008. To safely manage high levels of household debt, more flexible mortgage contracts, clearer personal bankruptcy rules, and tighter lending standards and macro-prudential rules are needed.

 

·        China’s debt has quadrupled since 2007. Fueled by real estate and shadow banking, China’s total debt has nearly quadrupled, rising from $7.4 trillion in 2007 to $28.2 trillion by mid-2014. At 282 percent of GDP, China’s debt as a share of GDP, while manageable, is larger than that of the United States or Germany. Several factors are worrisome: half of loans are linked directly or indirectly to China’s overheated real estate market, unregulated shadow banking accounts for nearly half of new lending, and the debt of many local governments is likely unsustainable. However, we also calculate that China’s government has the financial capacity to bail out the financial sector should a property-related debt crisis break out. The challenge today will be to contain future debt growth and reduce the risks of such a crisis.

 

·        Shadow banking has declined, but non-bank credit is rising in importance. One bit of good news is that the riskiest forms of “shadow banking” in advanced economies are in decline – including credit default swaps, off-balance sheet securitization vehicles, and complex financial instruments built on subprime mortgages. In addition, banks have deleveraged and raised more capital, boosting financial stability. But with bank lending now constrained, other non-bank sources of credit—including corporate bonds and lending by non-bank intermediaries—are rising in importance. These sources account for nearly all new credit growth for non-financial corporations in advanced economies since 2008. In addition, new players, such as direct lending funds operated by alternative asset managers and insurers and online peer-to-peer lending services are becoming increasingly active. Today the sources of non-bank credit have few of the risks of “shadow banking” prior to the crisis, but they should be monitored carefully as they evolve and grow.

 

·        Innovations in how debt is created, managed, and discharged are needed. Given that deleveraging is rare, new approaches will be needed to manage and monitor debt. These include innovations in mortgage contracts to share risk and avoid default; stronger macro-prudential regulations to reflect overall leverage in the economy and dampen the credit cycle; more efficient restructuring of private sector debt; a broader range of tools to resolve government debt; rethinking tax incentives that encourage use of debt; enabling a healthy mix of bank and non-bank credit, including corporate bonds and simple securitization; and promoting healthy financial deepening in developing countries. 

 

The report will be available at www.mckinsey.com/mgi

 

 

 

 

 

 

 

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Pendidikan dan Kebudayaan

Pertanian

Kapal Ternak Solusi Memperlancar Distribusi Sapi Lokal dari Produsen ke Konsumen

JAKARTA JURNAL IBUKOTA: Kapal khusus angkutan ternak Camara Nusantara I (CN 1) merupakan salah satu wujud implementasi Tol Laut yang mengangkut ternak dari daerah sentra produsen ke daerah konsumen. Fini Murfiani selaku Direktur Pengolahan dan Pemasaran hasil Peternakan Ditjen Peternakan dan Kesehatan Hewan Kementerian Pertanian menyampaikan, keberadaan kapal ternak bertujuan untuk mendukung program pemenuhan pangan asal ternak, dan menjamin kelangsungan pendistribusian ternak melalui angkutan laut dengan kaidah animal welfare dari Provinsi NTT sampai ke DKI Jakarta dan sekitarnya.

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Lingkungan Hidup dan Kehutanan

Perhutanan Sosial: Masyarakat Dapat Akses Legal Kelola Kawasan Hutan

Alunan musik lesung dari masyarakat Hukum Adat Kasepuhan Karang, Kabupaten Lebak, Provinsi Banten, terdengar merdu mengiringi kedatangan Menteri Lingkungan Hidup dan Kehutanan (LHK), Siti Nurbaya, dalam pembukaan Festival Perhutanan Sosial Nusantara (PeSoNa) di Auditorium Dr. Soedjarwo, Gedung Manggala Wanabakti, Jakarta (06/09/2017).JAKARTA, JURNAL IBUKOTA: Alunan musik lesung dari masyarakat Hukum Adat Kasepuhan Karang, Kabupaten Lebak, Provinsi Banten, terdengar merdu mengiringi kedatangan Menteri Lingkungan Hidup dan Kehutanan (LHK), Siti Nurbaya, dalam pembukaan Festival Perhutanan Sosial Nusantara (PeSoNa) di Auditorium Dr. Soedjarwo, Gedung Manggala Wanabakti, Jakarta (06/09/2017).

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Transportasi

Pasca Penyesuaian Tarif Kondisi Lalu Lintas Tol Tangerang-Merak Berjalan Lancar

Manager Humas Theresia Dyah memberikan Souvenir dan Tabel Penyesuaian Tarif kepada pengguna jalanTANGERANG, JURNAL IBUKOTA: Sejak diberlakukannya penyesuaian tarif tol Ruas Cikupa-Merak pada 21 November pukul 00.00 WIB, kondisi lalu lintas Jalan Tol Tangerang-Merak berlangsung lancar.

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