Interference of foreign bodies<\/p>\n
To any discerning analyst it would appear that the
\nInternational Monetary Fund (IMF) and the World Bank combined
\nhave usurped the authority and power to say anything and do
\nanything in Indonesia. They can criticize the government, the
\nHouse of Representatives, the judiciary, the military, the
\nministers, the Indonesian Bank Restructuring Agency (IBRA), the
\ncentral bank, individual banks and even individual corporations
\nwith absolute immunity, even if the words and deeds are
\ncalculated to harm the country's image, sovereignty and
\nintegrity.<\/p>\n
They appear to be superpowers and a super parliament. They can
\nhold the President -- a democratically elected functionary under
\nthe Indonesian Constitution -- responsible and accountable to
\nthem for practically everything from the unrest in Aceh, killings
\nin Atambua and Ambon to the arrest of the former central bank
\ngovernor.<\/p>\n
Mr. John Dodsworth of the IMF and Mr. Mark Baird of the World
\nBank -- both not very high in their ranking within their
\nrespective organization -- can call to question anything and
\neverything, even if it is discriminatory and extra-
\njurisdictional. Yes, this can only happen in Indonesia. And this
\nis mainly because of our passiveness, inversive attitude and
\nanxiety to be extra polite to global organizations.<\/p>\n
IMF and World Bank representatives would be booted out if they
\ninterfered in the country's internal matters elsewhere, such as
\nRussia, Malaysia, Korea, India, Pakistan, China, the Philippines
\nand Thailand, not to mention Cuba, Iraq and Iran. The IMF and
\nWorld Bank should not forget the fact that Indonesia is an
\nhonored and important subscribing member of these world bodies
\nand that a loan made available from them (which is our right and
\ntheir duty) would in a way barter our national sovereignty and
\nintegrity to them.<\/p>\n
In fact, in terms of sheer quantum, Indonesia is more indebted
\nto private investors abroad than to the IMF. And these investors
\nremain silent and civilized while quietly working with each
\nindividual debtor for the refund of their money or restructuring
\nthe debt. On the other hand, the IMF and the World Bank have only
\ndone harm to the country right from the start.<\/p>\n
The indiscriminate closure of the banks, ill-advised repayment
\nof disputed claims of foreign banks toward derivatives and others
\nout of the IMF loan, a free foreign exchange regime even at the
\ncost of capital flight of several billions of dollars, a tight
\nmoney policy forcing the real sector to remain unviable forever,
\nthe merger and recapitalization of the banks at a huge cost
\nwithout looking to other and better alternatives, giving the
\ngovernment and its agencies an unrealistic timetable to do\/undo
\nthings, letters of intent and memorandums of understanding every
\nother day, paralyzing the government in every manner possible,
\nhelping IBRA with an unrealistic Master Settlement and
\nAcquisition Agreement (MSAA) intentionally or otherwise,
\npermitting certain well-connected conglomerates (to the IMF and
\nWorld Bank) to get away with marginal restitution and now
\nindulging in accusations discriminately in the context of IBRA's
\nloan workout with Texmaco, Tirtamas and others and a host of
\nothers pursued by IMF and the World Bank can happen and has
\nhappened only in Indonesia. It could not and would not be allowed
\nelsewhere in the world.<\/p>\n
Mr. Rizal Ramli, the coordinating minister for the economy,
\nfinance and industry, deserves a compliment for his principal
\napproach and his bold stand against the bullying tactics of these
\nworld bodies. I think it is perhaps overdue for the House to
\nconsider calling Mr. Dodsworth and Mr. Baird to account for their
\nirresponsible and extra-jurisdictional utterances and also for
\ntheir wrong advice and approach which has landed this country in
\nthe terrible mess it is in today. Both the IMF and the World
\nBank, particularly those representing them in Indonesia, should
\nnot be allowed to escape from the cost and consequences of what
\nresulted from their words and deeds, intentional or otherwise.<\/p>\n
ABDUL RAZEEK<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/interference-of-foreign-bodies-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }