Indonesian loan delay won't affect 1999 schedule: IMF<\/p>\n
WASHINGTON (Dow Jones): The International Monetary Fund said
\non Tuesday a delay in its disbursement of funds to Indonesia
\nwon't disrupt its schedule of loan payments to this country in
\n1999.<\/p>\n
An IMF official said in a telephone interview that there will
\nbe a delay \"of maybe a few weeks\" in the payment of $960 million
\nthat was originally due Nov. 25.<\/p>\n
He said the IMF board will convene in mid-December to consider
\nboth this loan and another payment of between $450 million-$500
\nmillion to South Korea.<\/p>\n
A report carried by Indonesia's daily Jakarta Post Tuesday
\nquoted<\/p>\n
Coordinating Minister for Economy and Finance Ginandjar
\nKartasasmita said earlier that IMF board meeting would be held
\nDec. 12.<\/p>\n
An IMF mission to Indonesia returned to Washington Nov. 16,
\nwith final deliberations on the Indonesian loan delayed by other
\nevents that demanded the attention of Hubert Neiss, the IMF's
\nAsia-Pacific director.<\/p>\n
The IMF also delayed October's disbursement of $960 million to
\nIndonesia by more than a week, citing administrative glitches.<\/p>\n
November's disbursement was to be the final payment to
\nIndonesia by the IMF this year, with the next loan installment -
\nfor a similar amount - due Feb. 15, 1999. Subsequent payments of
\naround $240 million each are expected on the 15th of May, August
\nand November 1999.<\/p>\n
These payments are part of an $11.70 billion IMF loan facility
\nthat forms a key plank in a $42.00-billion international bailout
\nof the country in the wake of a severe deterioration in the
\nIndonesian rupiah this year.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indonesian-loan-delay-wont-affect-1999-schedule-imf-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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