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Earlier this morning, the Indonesian government declared an additional one-off bridge public holiday (locally known as collective leave) for Monday, May 16, 2011, ahead of the annual public holiday of Waisak on Tuesday, May 17, 2011.
The aforementioned announcement came as a surprise, as the public holidays and collective leave days for 2011 had been announced by the government of Indonesia in a decree (Surat Keputusan Bersama (SKB) tentang Hari Libur Nasional dan Cuti Bersama 2011) almost a year ago (2010-06-15).
In a separate announcement, Bank Indonesia spokesman, Difi Johansyah, announced that following today's government announcement, Bank Indonesia, central and regional, would follow the government's decision for a collective leave on Monday, May 16, including stopping clearing operations.
Finally, the president director of the Indonesia Stock Exchange (IDX), Ito Warsito, announced that since banks would be closed on Monday, May 16, 2011, the Indonesia Stock Exchange (IDX) would also close and resume operations on Wednesday, May 18, 2011.
However, in a later communique, Indonesia's National Banking Association (Perbanas) announced that despite the announced public holiday on Monday, its members had agreed to remain open on Monay, meaning that most major banks will remain open on Monday, May 16, 2011.
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