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Technology Stocks : INDONESIA'S PT TELECOM(TLK)
TLK 21.89+4.6%Nov 24 3:59 PM EST
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To: Rational who wrote (221)2/4/1998 5:45:00 AM
From: Rational  Read Replies (2) of 947
 
Wednesday, February 4, 1998

NATIONAL NEWS

GOVT REAFFIRMS ITS COMMITMENT TO LETTER OF
INTENT WITH IMF

Jakarta - The government has reaffirmed itscommitment to implementing the letter of intent it has
signed withthe International Monetary Fund (IMF) because it was signed byPresident Soeharto himself , a
cabinet minister said.

"As the letter of intent had been signed by the head of state,Indonesia is of course to implement it
consistently,"Minister/State Secretary Moerdiono said here Tuesday.

Replying to questions on rumours that the National LogisticsAgency (Bulog) would extend its
monopolies on wheat flour, soyabeanand garlic up until March this year to stabilize the prices of ninestaple
goods, Moerdiono said economic reform as carried in theletter of intent would remain in place and there
would be no roomfor changes.

He also expressed his exhilaration on hearing news that marketplayers had shown a positive reaction to
the guarantee given by thecentral bank to debts and deposits of all Indonesian banks.

Banking liquidity was now improving and there even was anindication of a rush to transfer savings
from foreign banks tonational banks, he said.

"That's how it should be." Moerdiono added. NNNN
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