FCL only guarantees the future promised loan. So if there was another vulnerable factor like insubstantial anxicous, FCL would not work.
The lack of foreign reserve is the cause of the crisis. So if FCL could gurantee the amount of foreign reserve, it would work.
→ How much and when should IMF have guranteed ?
FCL would not work. This is because the cause of the crisis is not the lack of money like foreign reserve but unsubstantial anxious and the lack of the central bank's credibility.
The unsustainable political situation (the fear of depreciation of Rupih) is not for FCL.
The problem was denied rollover, so it is not for FCL.