Changing our lifestyle

Changing our lifestyle

The core of Indonesia's foreign debt problem is in reality not
so different from that which affects debtor-creditor relations in
general. The creditors (donor countries) begin by considering a
number of aspects related to the debtor (receiving countries),
such as the character of its government, its ability to pay back
the loans, the condition of its economy, the collateral (if any)
it can provide and the nation's credibility.

It appears that in the case of Indonesia, donor countries will
focus their attention on the government's character, the
country's economic prospects and the nation's credibility. At the
very least, those donors will be measuring our capability to
create a system of government that is free of corruption,
collusion and nepotism.

It is important that this is fully realized by our government
officials, from those in the highest echelons to the lowest. The
reason is that a system of government that is free of such
negative elements will be able to at least induce a certain
degree of credibility with regard to the management of the state
finances. This, in turn, could mean a speedier economic recovery.

Apart from state management, another major factor that needs
our attention is the immediate restoration of this nation's good
image in the eyes of foreigners. The looting and riots which have
occurred in several towns and cities lately are dark stains on
our national record which are not easily erased. Do we really
lack the ability to resolve these cases once and for all so that
our national credibility can be restored?

Not one donor country at present will be willing to take pity
on us and our current condition. They will let themselves be
guided primarily by economic and rational calculations in
considering any possible restructuring of our foreign debts.

For that reason, there is no other way we can persuade them to
lower our debts or grant us any other facilities to help us
lighten our debt burden. What we need to realize most of all is
that we must start making frugal living a part of our lifestyle
so that we may extricate ourselves from the grip of our already
colossal foreign debt burden.

-- Bisnis Indonesia, Jakarta