IMF is not interfering in RI<\/p>\n
I was puzzled by the reference to the IMF in Mr. Chairul's
\narticle in The Jakarta Post, June 20, 1999, entitled Building an
\nIndonesian Hall of Shame. Mr. Chairul's complaint is that he
\ncan't scratch his head without the International Monetary Fund
\n(IMF) telling him where, and -- more seriously -- that the IMF is
\n\"messing up our domestic affairs\", \"interfering in our domestic
\nbusiness\", and that we all should feel quite ashamed about this
\ndevelopment. Now, I would like to ask Mr. Chairul to wait a
\nminute and consider the following:<\/p>\n
As we all know, Indonesia faced a serious financial and
\neconomic crisis in 1997 and requested assistance from the IMF, as
\nis the right of any member of this international institution. The
\nonly way to get out of the crisis was to take strong corrective
\npolicy measures, and to provide massive international financing.
\nBoth were forthcoming: the government implemented the measures
\nagreed with the IMF, and the IMF disbursed the agreed amount of
\nmoney -- in full and in time, so far over US$10 billion. So, both
\nparties stuck to the bargain, with the common objective to move
\nIndonesia out of the crisis.<\/p>\n
Surely, there is nothing \"shameful\" abut this, even if things
\ndid not always work out perfectly in implementing the program. On
\nthe contrary, we should all be happy about the close cooperation
\nbetween the Indonesian government and the IMF, rather than lament
\nabout \"interference\". More to the point, we should be pleased
\nthat the collaborative efforts are now showing results. Just
\ncompare the economic situation today with that of a year ago!<\/p>\n
When you help a friend in need by giving him advice and
\nlending him money, and he agrees to your advice and to use the
\nmoney to improve his situation and not for anything else, are you
\nreally \"interfering\" and \"dictating\", and should the friend be
\nashamed for what he is doing? I don't think so.<\/p>\n
Beyond that, and on a more serious plane, let me also say that
\nMr. Chairul's article reminds us that there are shameful episodes
\nin every nation, as there are in every individual. We have to
\nface these honestly, so that we can act to redeem ourselves.<\/p>\n
But as far as the IMF is concerned, I would suggest to Mr.
\nChairul to relax, take a less negative attitude, and to scratch
\nhimself wherever he wishes.<\/p>\n
HUBERT NEISS<\/p>\n
Director<\/p>\n
Asia and Pacific Department<\/p>\n
IMF, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/imf-is-not-interfering-in-ri-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }