IMF discusses RI request<\/p>\n
WASHINGTON (Reuters): The International Monetary Fund (IMF) is
\ndiscussing an Indonesian request for extra cash, but has not
\ndecided how to respond, a spokesman said on Tuesday.<\/p>\n
\"The matter is obviously under discussion, but no decision has
\nbeen taken,\" the spokesman said.<\/p>\n
Indonesia, the second major victim of an economic crisis which
\nstarted in Thailand and has since spread across the developing
\nworld, has already received US$8.8 billion of an $11.2 billion
\nloan from the IMF.<\/p>\n
But Coordinating Minister for Economy and Finance Ginandjar
\nKartasasmita told Reuters last week that his country would be
\nasking the IMF for an additional $1 billion in order to unlock
\nfunds promised under the Japanese government's Miyazawa Plan.<\/p>\n
\"We need the extra funds from the IMF to be able to get more
\nmoney from Japan,\" he said. \"Japan, with the Miyazawa Plan, is
\ninsisting that it should be co-financed with the IMF.\"<\/p>\n
Japan's $30 billion plan aims to help Asian countries caught
\nin the economic maelstrom, which started when crashing currencies
\nexposed fragile banking systems and inadequate investment rules.<\/p>\n
The IMF spokesman said he expected the fund's executive board
\nto meet in March to discuss new payments to Indonesia, whose IMF
\nmoney forms part of a $43 billion international rescue package.<\/p>\n
The program got off to a shaky start, amid serious doubts
\nabout Indonesia's commitment to economic reforms. But Ginandjar,
\nwho held talks with IMF and World Bank officials in Washington
\nthis week, said the IMF had been helpful and the worst was over
\nfor the Indonesian economy.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/imf-discusses-ri-request-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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