Australia-RI loan talks

Australia-RI loan talks

ADELAIDE (Reuters): Australian Treasurer Peter Costello said
on Wednesday that the government was in talks with Indonesia
about the release of the first part of its US$1 billion
assistance package.

"We have to negotiate the terms, we expect they can be
concluded in the near future and whilst the Indonesian government
continues to implement economic reform we will make the moneys
available," Costello told reporters.

"The first amount has been forwarded by the IMF and we are
having negotiations with Indonesia on the terms and conditions on
which we would advance the first part of our assistance."

Australia pledged to provide US$1 billion to Indonesia, its
closest Asian neighbor, as part of the International Monetary
Fund's US$40 billion-plus bailout package which was linked to an
economic reform program that had been revised a number of times.