Jakarta, April 20 -- Indonesia needs a more progressive and focused policy approach, particularly in developing alternative financing systems beyond reliance on the US dollar, according to Trimegah Sekuritas Indonesia Chief Economist Fakhrul Fulvian.

He said priority measures include strengthening the Local Currency Settlement (LCT) scheme in bilateral trade and exploring the use of lower-cost funding currencies such as CNH for financing.

He also highlighted the need to deepen the rupiah-based domestic financial market, especially for long-term instruments, while diversifying both the investor base and sources of liquidity.

"Indonesia can no longer simply be a price taker in the global financial system. We must start becoming the archi...