Country Yadayada has just announced its independence. You have been summoned to the state palace to make a presentation to the first full cabinet meeting. Their first agenda is determining the foreign exchange regime.

a. Your task is to present the pros and cons of each foreign exchange system. The cabinet secretary told you most ministers are aware of the following foreign exchange arrangements: fixed exchange rate, currency board, managed floating dan free floating exchange rate.

b. How would the arguments have developed in Indonesia in October 2021?