Indonesia has little exposure to SVB. Nevertheless, vigilance must still be increased by continuing to pay close attention to various domestic and foreign micro-banking and macroeconomic indicators.

Global uncertainty can trigger economic recession that can disrupt Indonesia's economic growth targets in 2023. However, Indonesia is considered to have resilience, as reflected in its 2022 performance.

The outlook for the world economy in 2023 is not as bad as many people think. Coupled with China's economy, which has begun to relax, a world economic recession can even be avoided.

The hope is for a world recession, if it happens, to grow slowly rather than a sharp contraction. Perhaps inflation will remain above the normal average.

We must not let our guard down or feel complacent. The government, together with the monetary authorities, need to prepare a contingency plan if the threat of global uncertainty hits Indonesia.

What is going on in the global economy, and how can Indonesia prosper in such a difficult environment?

Hopefully, the country’s third-quarter growth of 5.72 percent will have a positive impact on employment. Whatever the problems affecting the fate of the workforce must be observed and anticipated well.

This is in contrast to the orthodoxy of the US Fed, which is trying to restore its credibility as a monetary authority as it continues to raise its benchmark interest rate several more times in 2022 and 2023.