Indonesia asks U.S. help to seek extra aid<\/p>\n
WASHINGTON (AP): Indonesia is asking the United States for
\nhelp in securing an additional US$4 billion to $6 billion in
\ninternational aid to combat the Asian nation's worst financial
\ncrisis in 30 years.<\/p>\n
Ginandjar Kartasasmita, Indonesia's Coordinating Minister of
\nEconomy, Finance and Industry, said he had discussed with
\nTreasury Secretary Robert Rubin a U.S. contribution to a possible
\npackage the International Monetary Fund is arranging for
\nIndonesia. Kartasasmita would not mention any figures, however.<\/p>\n
\"The United States has been very supportive\" of Indonesia,
\nGinandjar said. \"Of course, we would like to see it translated
\ninto concrete terms. ... The United States plays a major role in
\nthe IMF.\"<\/p>\n
Pressed by reporters to provide specifics, Ginandjar said,
\n\"The IMF is coordinating the effort to get the sources together.
\nI was reassured they were developing in the right direction.\"<\/p>\n
Ginandjar said he expected the IMF to release $1 billion more
\nin aid to the country next week and to announce details of the
\nsupplementary $4 billion to $6 billion package. Indonesia, the
\nworld's fourth most populous nation, already has obtained a $43
\nbillion IMF bailout.<\/p>\n
Ginandjar was speaking to reporters Friday after two days of
\nmeetings with high-level U.S., IMF and World Bank officials.<\/p>\n
He also held talks this week with bankers in New York about
\nrescheduling a portion of $64 billion to $66 billion in private
\ndebt owed by Indonesian corporations.<\/p>\n
Ginandjar said similar repackaging talks would take place next
\nweek in Frankfurt, Paris, Tokyo, Singapore and Seoul, South
\nKorea.<\/p>\n
The Indonesian government also has $50 billion in debt and
\nGinandjar said rescheduling that burden might help resolve
\nIndonesia's financial difficulties.<\/p>\n
\"It is an option,\" he said. \"It could be part of a solution.\"<\/p>\n
Ginandjar said the government has had no problems in meeting
\nits debt obligation, which has always been a priority.<\/p>\n
He also disputed reports from Jakarta that the IMF release of
\nthe $1 billion installment was contingent on an ally of
\nIndonesian President B.J. Habibie being elected chairman of the
\nruling Golkar party.<\/p>\n
The International Monetary Fund also denied the media reports
\nthat the disbursement of its stalled loans to Indonesia would
\ndepend on the outcome of the country's ruling Golkar political
\norganization congress.<\/p>\n
The IMF Asia-Pacific director Hubert Neiss said in a statement
\nthat the date for the Fund's executive board meeting was
\nindependent of the outcome of the Golkar congress.<\/p>\n
The board meeting is expected to pave the way for the
\nresumption of the loans.<\/p>\n
He stressed that the IMF program did not contain any political
\nconditions, and \"nor is the date of the program review subject to
\npolitical conditions.\"<\/p>\n
Golkar yesterday elected the country's Minister\/State
\nSecretary, Akbar Tandjung, as its new leader.<\/p>\n
Tandjung, 53, a former minister of youth and sports, received
\n17 of the 27 provincial votes cast, defeating rival candidate,
\n60-year-old retired general Edi Sudrajat.<\/p>",
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"sponsor": "Okusi Associates",
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