As a positive impact, we shall look at the interactions of private fund flows between Singapore and Indonesia. This simultaneously helps answer the Singapore economic growth “miracle” and what has been driving it all these years. In 2016, Indonesia’s then finance minister Sri Indrani Mulyani said that there was some S$340 billion of Indonesians’ money kept in Singapore, forming some 80% of all overseas money Indonesians stashed abroad. Singapore came out to say in 2016 that Indonesia holds an estimated US$200 billion (around S$255 billion) in its financial centre, or around 40% of its total private banking assets. It would be beyond comprehension to not understand how this kind and magnitude of financial flows would greatly aid the recipient country’s own development and welfare.

Source: The Edge Markets April 10, 2026 05:37 UTC