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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: Junaidi who wrote (3214)	5/6/1998 3:45:00 AM
From: bill718	Respond to of 4718

Japan to provide $2B U.S. to Indonesia: The move follows the May 4 decision by the IMF to approve the amended economic program of Indonesia, Matsunaga said. The full text of the Matsunaga statement follows: "The IMF Executive Board approved the amended and strengthened economic program of Indonesia on May 4. We welcome this agreement as a result of strenuous and flexible talks between the two sides, encouraged by our government. "New funds will be made available by the IMF, and I am confident that steady implementation of this agreement would help Indonesia restore confidence of international markets in her economy, and overcome her economic difficulties. "In order to support Indonesia to overcome her economic difficulties and to implement the agreement with the IMF, we will provide immediately the already announced sector program OD yen loans amounting to 20 bln yen, and we will also front-load 1 bln usd out of the pre-committed 5 bln usd of the second line of defense to supplement Indonesia's foreign reserves and also extend Japan EXIM's two-step loan amounting to 1 bln usd. "The above assistance totalling 2 bln usd would contribute to enhancing Indonesia's trade financing which needs urgent attention. The disbursement will be made expeditiously. "We are also informed that further progress has been made concerning the Indonesian private external debt problem; debtor/creditor talks co-chaired by the banks of Japan, USA, and Germany have been making steady progress, and consensus on concrete measures to settle the debt problem is going to be formed. "I am looking forward to early agreement."