IMF again warns RI on Bank Bali scandal probe<\/p>\n
WASHINGTON (Dow Jones): The International Monetary Fund (IMF)
\nhas again warned Indonesia that it wants swift publication of
\nPricewaterhouseCoopers' review of the Bank Bali scandal.<\/p>\n
Graham Newman, an IMF spokesman, said Friday the Fund has
\ntalked to Indonesian authorities once more about the need for the
\nindependent review to be handed to a special committee that is
\npart of the Indonesian Bank Restructuring Agency, or IBRA.<\/p>\n
\"The IMF has again expressed its concerns to the Indonesian
\nauthorities regarding the need for full and prompt disclosure of
\nthe PricewaterhouseCoopers report to the chairman of IBRA's
\nIndependent Review Committee Mar'ie Muhammad,\" Newman said. \"Such
\ndisclosure...is an essential step for resolving the case in an
\norderly way.\"<\/p>\n
Standard Chartered Bank PLC discovered during a due diligence
\ninvestigation of Bank Bali that around US$70 million had been
\ntransferred from the Indonesian bank to a private company
\ncontrolled by a senior ruling Golkar Party official.<\/p>\n
This scandal - along with the government's reluctance to
\ntackle anti-independence violence in East Timor - has led the IMF
\nto suspend consideration of the next loan installment of $460
\nmillion due to be paid to Indonesia in November.<\/p>\n
PricewaterhouseCoopers told the Indonesian House of
\nRepresentatives last week that its review of the Bank Bali
\ntransaction was hampered by central bank delays in providing
\nPricewaterhouseCoopers auditors with the information they sought.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/imf-again-warns-ri-on-bank-bali-scandal-probe-1447893297",
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"sponsor": "Okusi Associates",
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