JAKARTA (TheInsiderStories) – Good morning. Looting and other rowdy behaviors were reported from disaster-struck areas around Palu and Donggala in Central Kalimantan as survivors from the 7.2 richter scales earthquake and subsequent tsunami turned to desperate measures.
Survivors were reported looting Alfamart mini-markets to secure basic goods. The government vehemently denied looting activities occurred in the area.
The situation was further worsen by statements of Home Affairs Minister Tjahjo Kumolo which is being interpreted as allowing looting activities to take place.
There is also a report that some convoys carrying assistance were blocked by earthquake survivors felt they are being left behind. In airports, people looking to evacuate from the disaster-struck areas attempted to break into runway and enter into planes, disturbing air traffic.
An earthquake at the force of 7.2 richter scales hit Palu and Donggala and triggered a tsunami, sending waves as high as five meters to the coastal city of Palu, the provincial capital on Friday (28/09) afternoon. According to the latest estimate, the disaster killed 844 people and displaced at least 59,000 people.
The disaster also revealed that some of the buoys implanted in the seas to give warning on any impending tsunami was stolen, an incident that had occurred in other places across Indonesia.
Finance Minister Sri Mulyani Indrawati said the government will soon disburse the requested Rp560 billion (US$38.62 million) emergency funds for rescue and rehabilitation efforts. The government had also issued an official appeal for international assistance, with some nations had already pledged their supports.
Both political camps had agreed to temporarily suspend campaign activities in the disaster-struck areas, less than the initial appeal by Former President Susilo Bambang Yudhoyono for a nation-wide halt.
However, the deteriorating law and order in the area had toughen the calls by the opposition camp for the government to declare the tsunami in Palu as a ‘national disaster’.
The financial market is relatively stable in the aftermath of the tsunami. The Jakarta Composite Index fell 0.5 per cent to 5,945 with foreign investors net bought equity worth Rp378 billion. The Rupiah strengthened to 14,905 per US$1 from 14,929 per US$1.
One key driver to the financial market is the release of September inflation data by the Statistics Indonesia. The Agency reported that the economy recorded a on-month deflation of 0.18 per cent and a on-year inflation of 2.88 per cent in September.
From overseas, after some tough negotiations Canada had finally decided to join a new trade deal with the US and Mexico which will replace the North America Free Trade Agreement. The new trade deal, named United State-Mexico-Canada Agreement, will give hopes that multilateral trade system remains the mainstay amid escalating trade war.
While, Christine Lagarde, the managing director of the International Monetary Fund, sent a warning that the tightening global financial market may lead to an outflow of US$100 billion from emerging market debts excluding China. She called for emerging market for cautions on private borrowing and more sustainable debts.
May you have a profitable day.
Written by TIS Intelligence Team