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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (1411)	1/22/1998 8:40:00 PM
From: Duke	Read Replies (1) \| Respond to of 9980

So how much more you think Rupiah can be drop, Stick? 25k, 30k? and why? Btw, in your previous posts you mention of smoke company, what is the name, symbol and can it be trade in US? Regards; Duke

To: Stitch who wrote (1411)	1/22/1998 9:44:00 PM
From: Duke	Respond to of 9980

Indonesia's revised budget targets zero growth JAKARTA, Jan 23 (Reuters) - Indonesian Finance Minister Mar'ie Muhammad on Friday reaffirmed budget targets for the next fiscal year of zero economic growth and 20 percent inflation in line with an IMF agreement signed last week. Speaking before parliament, Mar'ie also said the budget for 1998/99 (April-March) assumed an exchange rate of 5,000 to the dollar and a crude oil price of $17 per barrel. President Suharto's formal presentation of the fiscal 1998/99 budget on January 6 was criticised by financial markets for lack of specifics on economic reform and some dubious figures, including an optimistic prediction of four percent economic growth. Indonesia agreed to economic reforms with the International Monetary Fund last October in return for a $43 billion bail-out, but the government was widely seen as backsliding on the measures. In a televised address after last week's signing ceremony with the IMF, Suharto revealed agreement on an exchange rate of 5,000 rupiah to the dollar, and predictions of zero economic growth and 20 percent inflation in the revised 1998/99 budget. The earlier budget had predicted inflation of just nine percent and a rupiah exchange rate of 4,000.