JAKARTA Aug 5 Indonesia's President Susilo
Bambang Yudhoyono said on Friday there was no need to panic over
a sharp drop in the local stock market, saying the country was
better prepared than in 2008 to face any potential global
The stock market index fell more than 6 percent at
one point on Friday amid a global sell-off sparked by concerns
over the euro zone's debt crisis and fears that the U.S. economy
could slide back into a recession.
Yudhoyono was addressing an unscheduled cabinet meeting
following the latest global economic developments.
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(Writing by Aditya Suharmoko; Editing by Kim Coghill)