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Strategies & Market Trends : Asia Forum
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To: Rmn who wrote (524)1/7/1998 2:20:00 AM
From: Rational  Read Replies (1) of 9980
 
Hi all:

I had earlier commented that the IMF had screwed up SE Asia, despite the help it extended. Here is a comment from some analyst talking with respect to Indonesia today.

Rupiah/budget -- 11 (analyst comment on 1 pct surplus target)

Lippo's Panggabean said he does not see the government realising a 1 pct surplus when the budget is reviewed next year.

"Right now there is a low probability they can achieve a 1 pct surplus
without some help from the IMF," Panggabean said. He said before the IMF pledged its support, the rupiah was in the range of 2,000 to the dollar. Since the IMF support package the rupiah has plunged.

"What have they (the IMF) done themselves so far? They should not blame Indonesia but do more to help it." Panggabean said the political message in Suharto's speech was that the IMF "should not just merrily impose terms and requirements."


AFN
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