RI economy shows progress: Fisher<\/p>\n
SAO PAULO (Agencies): Indonesia, which has been the hardest
\nhit during the most recent wave of the Asian crisis, is showing
\npromising progress, IMF's First Deputy Managing Director Stanley
\nFischer said over the weekend.<\/p>\n
\"If political stability and the reform momentum are
\nmaintained, the Indonesian government program with the IMF -- no
\ndoubt with some changes -- should provide the basis for gradual
\nrestoration of the health of the economy and investor
\nconfidence,\" Fischer said.<\/p>\n
Fischer said that an IMF team is currently in Jakarta to
\ndiscuss a revised program with officials, following the agency's
\ndecision last month to suspend a planned disbursement to
\nIndonesia amid political turmoil that resulted in an end to
\nPresident Soeharto's long reign.<\/p>\n
\"There is no doubt that these discussions will bear fruit,
\nsince the cooperation between the Fund and the new Indonesian
\neconomic team is very close,\" the IMF official said.<\/p>\n
Fischer said that the IMF is working to ensure that the
\nscheduled US$1 billion July loan tranche delivery is met.<\/p>\n
\"July 6 is conceivable but is no longer a target date,\" he
\nsaid, speaking at a press conference. \"We have no reason to delay
\nthe loan, we will go as fast as we can.\"<\/p>\n
In Jakarta, Indonesia's Coordinating Minister of Economy,
\nFinance and Industry Ginandjar Kartasasmita, said Friday that
\nIndonesia and the International Monetary Fund have agreed on
\ngeneral parameters of the state budget.<\/p>\n
\"We will announce the results next week,\" Ginandjar said after
\na meeting between economic ministers and President B.J. Habibie.<\/p>\n
In Tokyo, senior financial officials of the Group of Seven (G-
\n7) and Asian nations said in statement released after a meeting
\non Saturday that an early agreement between the International
\nMonetary Fund and Indonesia was crucial.<\/p>\n
The statement also said the participants in the meeting
\nwelcomed Indonesia's renewed commitment to reform.<\/p>\n
The G-7\/Asia meeting was held in Tokyo in the wake of joint
\nU.S.-Japan currency market intervention on Wednesday to prop up
\nthe sagging yen, which was threatening to trigger another round
\nof Asian devaluations.<\/p>\n
\"Deputies welcomed Indonesia's renewed commitment to economic
\nreform and the planned political reforms announced thus far,\" the
\nstatement said.<\/p>\n
\"They stressed the importance of an early agreement with the
\nIMF on an economic and structural reform program,\" it said.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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