Soeharto forms special team to monitor reform<\/p>\n
JAKARTA (JP): President Soeharto formed a special team
\nyesterday to monitor the implementation of the massive economic
\nreform program agreed by the International Monetary Fund (IMF) in
\nexchange for a multibillion-dollar bailout package.<\/p>\n
The team, called the Economic and Monetary Resilience Council,
\nwill be headed by the President, with economic advisor Widjojo
\nNitisastro as secretary-general and Director General of Tax Fuad
\nBawazier as deputy secretary-general.<\/p>\n
The team has three members: State Minister of National
\nDevelopment Planning Ginandjar Kartasasmita, chairman of the
\nFederation of Domestic Private Banks A. Subowo and president of
\nPT Bakrie Brothers Tanri Abeng.<\/p>\n
\"In facing the current situation, we need quick action and my
\nown responsibility. That's why I have to lead this team, assisted
\nby existing institutions,\" Soeharto said in a rare media briefing
\nat his residence on Jl. Cendana, Central Jakarta.<\/p>\n
He said the team would work together with IMF liaison
\nofficers, based in Jakarta, to monitor and review the
\nimplementation of the reform program.<\/p>\n
Indonesia would still need IMF advice in implementing the
\nreform program, for instance, in prioritizing or accelerating
\ncertain measures, he said.<\/p>\n
\"So the IMF is not just giving help once and then leaving.
\nThey also have interests (to make the program successful) because
\nif it fails, the IMF will also lose face,\" he said.<\/p>\n
IMF managing director Michel Camdessus said fears that some
\nparties could \"sabotage\" the program were behind the decision to
\nset up the council to oversee the program.<\/p>\n
The President \"has agreed to establish the committee, whose
\nrole will be precisely to make sure that nothing escapes the
\nvigilance of the President himself and of key officials in charge
\nof the implementation,\" Camdessus said.<\/p>\n
He said a former deputy managing director of the IMF would
\nbecome a special liaison between the IMF and the Indonesian
\ngovernment.<\/p>\n
Soeharto explained the need to establish such an economic and
\nmonetary resilience council, saying it was to support national
\nresilience, which included politically ideological resilience and
\nsocial and cultural resilience.<\/p>\n
\"Now we have a crisis dealing with economic and monetary
\nresilience, and we have to handle this,\" Soeharto said.<\/p>\n
\"We do not want to tackle this crisis alone, but with help
\nfrom the Monetary Council and the private sector,\" he added.<\/p>\n
The Monetary Council has the minister of finance, the governor
\nof Bank Indonesia and the coordinating minister for economy and
\nfinance as its members.<\/p>\n
Tanri, one of the council's members, said yesterday he was
\nsurprised by his unexpected appointment as member of the new
\nteam. But he welcomed the new duty, saying he would be happy to
\ncontribute ideas and energy to help restore confidence.<\/p>\n
\"I was surprised because I did not see any indication I would
\nbe included on the team,\" Tanri told journalists when leaving the
\noffice of the coordinating minister for production and
\ndistribution.<\/p>\n
\"As a citizen and professional, there is no holier duty than
\ngiving my energy and ideas to the nation in this difficult time,\"
\nhe said.<\/p>\n
He said he often thought there was a need to establish such a
\nteam with enough authority to take measures to restore
\nconfidence.<\/p>\n
\"It is very proper to be headed by President Soeharto, who is
\nan expert in managing crises,\" Tanri said.<\/p>\n
\"I strongly believe that we, with help from all layers of
\nsociety, will eventually be able to manage and tackle this
\ncrisis,\" he said. (prb\/rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/soeharto-forms-special-team-to-monitor-reform-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}