29/10/2008 (Xinhua), Jakarta - Indonesia has obligated state-own firms to place their U.S. dollars in the country and speed up the implementation of project funded by donors, Coordinating Minister for Economy Sri Mulyani Indrawati told a press briefing on Tuesday evening after a sudden cabinet meeting.

The measure was aimed at boosting rupiah value which has been declining against the U.S. dollars due to the impact of global financial turmoil.

On Tuesday, rupiah slid nearly 9 percent to 11,800, the lowest in more than seven years.

"We have set up a clearing house from the state-owned enterprises in a bid to place all amount of their foreign currency(U.S. dollars) in domestic banks," Mulyani said at the State Palace.

"We will speed up implementation of all projects which have already got commitment on their financing, including those from bilateral or multilateral forum. This aims at raising U.S. dollars supply to the country," she said.

Indonesia, with a population of over 230 million, planned to build a massive infrastructure to support its economic targets.

The biggest Southeast Asia economy puts economic target at 6 percent next year.

The minister said that the country's central bank and finance ministry would monitor the flow of the U.S. dollars in the state-owned firms.

"So the state-owned firms have to deliver their plan to purchase foreign currency and the purpose of it. And this (control)would be done in centralized manner," she said.

The minister said that the government also exempted export tax for crude palm oil. The export volume of the palm oil has been falling due to weakening demand and prices.

Indonesia is the biggest crude palm oil producers.

Besides, to maintain the sustainability of export, Mulyani said that the government would guarantee the payment from buyers.

The government would also stabilize the bond market and carry out buyback on an appropriate number, she said.

Indonesian stocks exchange headed for their worst yearly performance, as a global financial rout prompted investors to flee from the country.