Curb foreign loans

Curb foreign loans

The Consultative Group for Indonesia, in its fifth meeting on
Thursday, approved loans of US$5.26 billion, which is less than
last year's figure.

According to Indonesian chief delegate Saleh Afiff, this
reduction will not affect the government's development plans
because it had been anticipated.

The government has been very successful. Our economic growth
averages 7.2 percent per year and Indonesia has become an
increasingly important player, regionally and internationally, in
maintaining world peace and stability.

Why don't we make it our national target to curb, reduce or
eliminate foreign aid. Admittedly, it is impossible to stop
foreign loans in the short-term because of the impact it would
have on our balanced budget policy.

We hope, however, that greater emphasis will be placed on fund
raising through domestic resources. Prevailing external
conditions require that we change our policy, while great
domestic potential is available.

-- Bisnis Indonesia, Jakarta