Jakarta, Feb 23: Indonesia's top economic minister Ginandjar Kartasasmita said on Tuesday that he expected a single Asian currency based on the yen to eventually evolve, but that it could take years to emerge."I believe the global economy will evolve towards a system in which there are a few large currency areas," Ginandjar told an Indonesia-Japan business symposium.
"The dollar is obviously one of these, the euro may become a second and a yen-based currency system might be well be the third," he added. "It is also worthwhile to start thinking about a wider-based Asian currency unit, probably anchored on the yen."
"Such an effort should not be undertaken lightly however, nor should it be undertaken in the spirit of undermining either the role of the dollar or the potential role of the euro."
Ginandjar said a more pressing priority for Asian nations was to find ways of avoiding a repeat of the economic crisis that has shaken the region.
"In the meantime, our immediate priority is to strengthentheinternational Financial system to allay future crisis," he said.
Indonesia is in the grip of its worst economic crisis in 30 years. The economic hardship has spawned unrest and crime throughout the country.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.