{
    "success": true,
    "data": {
        "id": 1399324,
        "msgid": "imf-to-pay-ri-over-time-admits-its-misjudgment-1447893297",
        "date": "1998-05-01 00:00:00",
        "title": "IMF to pay RI over time, admits its misjudgment",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "IMF to pay RI over time, admits its misjudgment WASHINGTON (Reuters): A senior official said on Wednesday that the International Monetary Fund (IMF) would make its next payments to troubled Indonesia in three installments, and he said the fund misjudged the crisis in its early stage.",
        "content": "<p>IMF to pay RI over time, admits its misjudgment<\/p>\n<p>WASHINGTON (Reuters): A senior official said on Wednesday that<br>\nthe International Monetary Fund (IMF) would make its next<br>\npayments to troubled Indonesia in three installments, and he said<br>\nthe fund misjudged the crisis in its early stage.<\/p>\n<p>Bijan Aghelvi, deputy head of the IMF's Asia and Pacific<br>\nregion, said a proposed US$3 billion payment from a $10 billion<br>\nIMF loan to Indonesia would not be handed over at one time,<br>\nalthough he declined to say exactly what Jakarta would get.<\/p>\n<p>\"Initially there was a purchase to be made,\" he said,<br>\nreferring to the $3 billion the IMF had planned to pay in March.<\/p>\n<p>\"That has been divided up into three months, so that total is<br>\ngoing to be divided up.\"<\/p>\n<p>Aghelvi admitted the IMF, whose $10 billion loan forms the<br>\nlargest single part of a $40 billion international rescue deal,<br>\nhad initially misjudged the scale of Indonesia's financial woes<br>\nand said the financial crisis there was \"not over yet.\"<\/p>\n<p>\"At the beginning we thought it was a pure contagion effect,<br>\nwhich is ironic as Indonesia's problems have been much worse than<br>\nother countries in the region,\" he said, referring to the idea<br>\nthat foreign exchange problems in Thailand had simply spread to<br>\nIndonesia.<\/p>\n<p>\"We thought that a strong macroeconomic program would fix the<br>\nproblem.\"<\/p>\n<p>A package of IMF-backed economic reforms has already been<br>\nrenegotiated twice, delaying IMF payments beyond that expected<br>\nwhen the deal was first signed.<\/p>\n<p>The IMF board meets on Monday to discuss the latest reform<br>\nprogram and decide how much to pay.<\/p>\n<p>Bank Indonesia Governor Sjahril Sabirin said in Geneva that<br>\nthe Indonesian government had met all the targets required by the<br>\nIMF for another disbursement from the loan.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/imf-to-pay-ri-over-time-admits-its-misjudgment-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}