Doubts about the IMF<\/p>\n
According to our records, in the nine months that it has been
\ninvolved (in assisting Indonesia), the International Monetary
\nFund has released US$1 billion of a total of $43 billion it has
\ncommitted to provide. This represents a most painful delay.<\/p>\n
Since the money has so far been unable to relieve our economic
\ncrisis, it is only natural that doubts have begun to emerge: The
\nIMF may no longer be a part of the solution (to the crisis), but
\nmay have become a part of the problem itself.<\/p>\n
Without in any way detracting from our appreciation of the
\npersistent efforts being made by the IMF director for Asia-
\nPacific, Hubert Neiss, who has been traveling back and forth
\nbetween Jakarta and Washington, we must point to the fact that
\nevery time an IMF delegation comes to Jakarta, the value of our
\ncurrency starts fluctuating, the main reason being the statements
\nthat disbursement of the money will be delayed.<\/p>\n
It must be admitted that the political and economic situation
\nhas been changing so rapidly in this country that every
\nassumption made so far has been proven wrong. However, the
\nconstant delays in the disbursement of funds have also
\nconsiderably helped to aggravate the Indonesian crisis.<\/p>\n
This time, even as people were hoping that Neiss would be
\nannouncing a speeding up of the assistance, the remarks he made
\nhave aggravated the prevailing sense of pessimism. Neiss said he
\nwas not sure that the money could be disbursed by the beginning
\nof July. A disappointed market immediately sent the rupiah
\ntumbling to a low of Rp 15,000 to the U.S. dollar.<\/p>\n
One particular attitude on the part of the IMF needs
\ncorrecting. As a doctor, the IMF is not wholeheartedly treating
\nIndonesia as a patient. Rather, it is treating Indonesia as a
\npatient tainted by sins. Because of this, it is no wonder that it
\nis prescribing for Indonesia a medicine that is too strong for
\nthe disease this country is suffering.<\/p>\n
-- Media Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/doubts-about-the-imf-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }