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Technology Stocks : INDONESIA'S PT TELECOM(TLK) -- Ignore unavailable to you. Want to Upgrade?

To: Solon who wrote (428)	3/3/1998 9:33:00 AM
From: tom	Read Replies (1) \| Respond to of 947

Peter has got a conference call on Thursday so I'll let you know what he's saying then. As he'll be talking to 200 other people at the same time I don't reckon I'll get any good info - more a re-hash of Indo/IMF economic policy but anyway.... I got a message from someone whose just met with the IMF reps in Jakarta. A few points of interest are 1. It's the first time they (IMF) have been bearish on Indo as they can't see a quick way out. What could have taken months to sort out will now take years. 2. The government officers that were dealing with the IMF have completely given up. They have not bothered even preparing data that the IMF have asked for. They seem to be mirroring the inaction at the top of the government. 3. IMF are unofficially forecasting inflation of 50%+ for 1998, GDP growth of -7% 4. They suspect that it is the shifty banks received most of BI's Rp12trn liquidity injection in Jan 98. 5. BDNI has lost everything by betting on the Rupiah in Jan (+ is prob being bailed out by BI). 6. They now have been told (by my contact) that the IBRA (Bank restructuring agency) does not exist and are, understandably, quite concerned. 7. IMF are considering not disbursing the next tranche of cash. Scary stuff!