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

To: Susan Saline who wrote (768)	7/16/1998 6:55:00 AM
From: tonto	Read Replies (1) \| Respond to of 947

Susan, you will like this news: Japan to continue cooperation on Indonesia aid-MOF TOKYO, July 16 (Reuters) - Japan will continue to cooperate with other countries and multilateral agencies on aid for Indonesia, Finance Minister Hikaru Matsunaga said in a statement on Thursday. The IMF on Wednesday approved an immediate $1 billion loan payment to Indonesia. Donors also agreed to increase bailout lending by more than $6 billion on top of previous commitments by the end of March, 1999. Matsunaga welcomed both moves by the IMF. ''We expect that steady implementation of the (International Monetary Fund) programme together with the recent agreement in Frankfurt on private sector debt issues will enable the Indonesian economy to regain the confidence of international markets and overcome its current difficulties,'' he said. Indonesian negotiators met in Frankfurt in early June with representatives of creditor banks to reach a general understanding on Indonesia's estimated $80 billion in corporate foreign debt. The IMF said financing for the increased lending would be provided through an ''informal arrangement'' among bilateral creditors, meaning through rescheduling of principle payments or provision of an equivalent amount of money. Side note, rupiah up over 11%