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