{
    "success": true,
    "data": {
        "id": 1224125,
        "msgid": "vicious-cycle-1447899208",
        "date": "2002-11-22 00:00:00",
        "title": "Vicious cycle",
        "author": null,
        "source": "",
        "tags": null,
        "topic": null,
        "summary": "Vicious cycle With its huge amount of foreign debt, Indonesia is caught in a vicious cycle. Surprisingly, the government is apparently happy about this, with its request for new debts and seeking the rescheduling of old debts. However, Indonesia is not listed among the poorest countries in the world. This means that the request to reschedule the debts was turned down. The country finds itself in a major quandary because it is impossible to repay these massive debts with the state budget.",
        "content": "<p>Vicious cycle<\/p>\n<p>With its huge amount of foreign debt, Indonesia is caught in a<br>\nvicious cycle. Surprisingly, the government is apparently happy<br>\nabout this, with its request for new debts and seeking the<br>\nrescheduling of old debts.<\/p>\n<p>However, Indonesia is not listed among the poorest countries<br>\nin the world. This means that the request to reschedule the debts<br>\nwas turned down.<\/p>\n<p>The country finds itself in a major quandary because it is<br>\nimpossible to repay these massive debts with the state budget. In<br>\nsuch a situation the final option is not to pay the debts.<\/p>\n<p>The foreign debts are a multilateral matter, involving the<br>\nInternational Monetary Fund (IMF), the Asian Development Bank<br>\n(ADB) and the World Bank. These three institutions have loaned<br>\nmoney to the country in the name of development, and plunged<br>\nIndonesia into structural dependence on foreign debts.<\/p>\n<p>Therefore, foreign debts are now a matter of political choice<br>\nrather than an economic matter.<\/p>\n<p>Is it proper for the government to seek debt rescheduling or<br>\ndecide not to pay the debts, while many government officials are<br>\nwell off and 30 percent of the state budget is leaked and<br>\ncorruption is rampant?<\/p>\n<p>The vicious cycle must end. The country can stand firmly<br>\nwithout foreign debts if corruption is eliminated and our natural<br>\nresources are properly managed for the sake of people's<br>\nprosperity.<\/p>\n<p>-- Media Indonesia, Jakarta<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/vicious-cycle-1447899208",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}