IMF mission due here next week<\/p>\n
JAKARTA (JP): The International Monetary Fund (IMF) will send
\na mission to Jakarta next week in a bid to reach an agreement
\nwith the country's new economics team on a number of economic
\nreform programs, the fund's senior resident representative in
\nIndonesia, David Nellor, said in a press statement on Tuesday.<\/p>\n
Nellor said the mission would be led by IMF deputy director
\nfor the Asia Pacific region Annop Singh.<\/p>\n
He added that the IMF executive board was expected to meet in
\nWashington early next month to decide whether to approve the
\ncountry's economic reform programs as stipulated in the letter of
\nintent (LoI).<\/p>\n
The approval of the new LoI will pave the way for the
\ndisbursement of IMF's US$400 million loan tranche to the country
\nthat was put on hold late last year amid signs that the
\ngovernment was wavering on the implementation of its reform
\nprograms.<\/p>\n
Elsewhere, Nellor said he had held a series of meetings over
\nthe past few days with Coordinating Minister for the Economy,
\nDorodjatun Kuntjoro-Jakti, Bank Indonesia Governor Sjahril
\nSabirin and other ministers in the new economics team.<\/p>\n
\"I was encouraged by their shared focus on key policy issues
\nand, most importantly, their determination to implement policy
\nreforms to strengthen the financial sector, fiscal management and
\nother key areas,\" he said.<\/p>\n
Analysts have said the signing of a new agreement with the IMF
\nwould further boost the rupiah, which has been rallying since
\nMegawati Soekarnoputri was appointed president and the new
\nCabinet was installed. The rupiah jumped to an 11-month high of
\nRp 8,400 per U.S. dollar on Tuesday.<\/p>\n
The agreement with the IMF will also prompt the Paris Club of
\ncreditor nations to agree to reschedule the country's sovereign
\ndebt maturing this year.<\/p>\n
The Paris Club is scheduled to meet with the government on
\nSeptember 10.<\/p>\n
A failure to obtain the debt rescheduling facility will
\ntrigger a fiscal crisis, economists have warned. (rei)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/imf-mission-due-here-next-week-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}