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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: sciAticA errAticA who wrote (33241)5/7/2003 12:23:55 PM
From: sciAticA errAticA  Read Replies (1) of 74559
 
Indonesia prepares to quit IMF program



Indonesia's Economy Minister, Dorodjatun Kuntjoro-Jakti,
says the country is ready to exit the International
Monetary Fund's economic program when it expires at the
end of this year.

The government has been under pressure from
lawmakers not to extend the IMF's $5 billion, five-year
economic program when it ends this year.

Mr Kuntjoro-Jakti says the Indonesian Government has
the right to end the program and has prepared strategies
for the future.

A visiting IMF team, led by IMF Asia-Pacific senior adviser
Daniel Citrin, is currently conducting a periodical review of
the program.

A successful review will pave the way for the next
disbursement of funds from the $1.8 billion scheduled for
release this year.

The AFP newsagency reports Indonesia will lose about $3
billion in financing concessions from the Paris Club of
creditor nations if if quits the IMF program.

abc.net.au
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