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"The year of 1997s witnessed a depreciation of domestic currency in many countries in Asia, including Indonesia. Finally in 1998, Indonesia got debt repayment ability problems and the economic crisis at the same time. Some economists found that the economic crisis caused by shocks in 1997 has been the major cause of the debt repayment inability. Meanwhile others argue that the debt problems in Indonesia have been the major cause of the economic. This invites question: Which of these contrary hypotheses are relevant for Indonesia case? Furthermore, how do Internal and External Shocks Effect Debt Crisis? For the case of Indonesia, this study found that shocks in exchange rate, domestic income and foreign income influence the loan demand and loan supply of Indonesia that finally caused the debt crisis. Defining Debt Crisis as a condition of excess demand (Loan Demand > Loan Supply) and use a rescheduling under duress as the working definition, this paper try to see what factors determined the loan demand and supply. Using Balance of Payments equation, this paper found identity equations determine loan demand. Any shocks over the variables determined these factors will finally be transmitted to loan demand and cause pressure to debt crisis. Using Vector Autoregression Model, this paper found significant relationship among the exchange rate, domestic income and foreign income and Export of goods and services, import of goods and services and direct foreign investment. The Impulse Response Function (IRF) provides further evidence that pressure for loan demand actually increased when depreciation occurred. It was caused trough its effect to export of goods and services, import of goods and services and direct foreign investment. The econometric results also show that there was a significant negative relationship between foreign income and loan demand, suggesting that an increase of foreign currency led to a lessening in pressure for debt crisis trough an increase in loan supply and a decrease in loan demand. Another finding is that an increase in domestic income will create pressure on debt repayment ability. This conclusion is supported by the positive relationship between domestic income and import showed by Impulse Response Function."

"dari sekedar arisan atau kumpul-kumpul untuk pengajian,lahir berbagai ide cerdas dari ibu-ibu rumah tangga menghadapi ekonomi yang sedang carut marut..."

"Krisis ekonomi bukan saja telah menimbulkan efek domino dan menyebabkan krisis multi dimensi, tetapi juga menciptakan jurang pemisah yang dalam antara masyarakat miskin dan segolongan orang-orang kaya. Tanpa disadari, krisis tersebut juga telah menjadi pemicu perkembangnya bank syariah di Indonesia, akibat goyahnya sistem perbankan konvensional...."

"The Asian monetary crisis in July 1997 has badly deteriorated Indonesian economic up to present. In four years of crisis, the poverty has rapidly multiplied from 11,34 % in 1976 became 24,2 % in 1997 and then 60 % in 2001. This critical social economic phenomena have raised the challenging question on how to eradicate the poverty. The scientist and technocrat have tried to formulate the concepts and systems and the every government had tried to implement the concepts and preparing the programs but still unsuccessfully. During the past three decades the Indonesian government had successfully diminished the rate of poverty from 40, 0% in 1976 became 21,64 % in 1984 and 11,34% in 1976. The paper encourages all parties to rethinking on how to resolve the current high rate of poverty effectively."