{
    "success": true,
    "data": {
        "id": 1275061,
        "msgid": "imf-letter-fires-warning-shot-at-ri-1447893297",
        "date": "2000-11-30 00:00:00",
        "title": "IMF letter fires warning shot at RI",
        "author": null,
        "source": "DJ",
        "tags": null,
        "topic": null,
        "summary": "IMF letter fires warning shot at RI HONG KONG (Dow Jones): Frustrated by the slow pace of economic reform, the International Monetary Fund has fired a warning shot across the Indonesian government's bow, the Far Eastern Economic Review reports in its latest edition to be published Thursday. In a tersely worded letter dated Nov.",
        "content": "<p>IMF letter fires warning shot at RI<\/p>\n<p>HONG KONG (Dow Jones): Frustrated by the slow pace of economic<br>\nreform, the International Monetary Fund has fired a warning shot<br>\nacross the Indonesian government's bow, the Far Eastern Economic<br>\nReview reports in its latest edition to be published Thursday.<\/p>\n<p>In a tersely worded letter dated Nov. 8 and obtained by the<br>\nmagazine, Anoop Singh, the Fund's Washington-based deputy<br>\ndirector for Asia and the Pacific, demanded that Jakarta move<br>\ndecisively to minimize risks in its fiscal decentralization plan,<br>\nuse higher oil revenues to repay government debt and set a firm<br>\ntimetable for asset sales.<\/p>\n<p>Failure to do so by early December, the letter suggests, could<br>\nstop the IMF's board from approving fresh loans to the country.<br>\nIMF officials in Washington refused to comment on the matter.<\/p>\n<p>In the three-page letter, Singh details \"the main actions<br>\nwhich were due to be implemented by end-October...and which have<br>\nyet to be completed.\"<\/p>\n<p>One of the IMF's top concerns is Indonesia's proposed<br>\ndevaluation of fiscal authority from the center to local<br>\ngovernments - part of a sweeping new decentralization program<br>\nscheduled to take effect on Jan. 1. The IMF wants Jakarta to<br>\nprohibit local governments from borrowing independently from<br>\nabroad and from borrowing independently at all through 2001.<\/p>\n<p>The IMF has long been critical of what one Fund official calls<br>\n\"the politicization of IBRA.\"<\/p>\n<p>Now it wants IBRA to \"publish a detailed asset schedule for<br>\nthe first half of 2001 after securing letters of commitment from<br>\nasset owners and appointing financial advisors in all cases,\"<br>\naccording to the letter.<\/p>\n<p>The IMF also wants the government to get parliament's approval<br>\nto reschedule the delayed sale of two banks - Bank Central Asia<br>\nand Bank Niaga. Finally, it wants IBRA's debt restructuring of<br>\nits 21 largest debtors subject to \"independent assessment from<br>\nIBRA's oversight committee.\"<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/imf-letter-fires-warning-shot-at-ri-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}