Govt upbeat about IMF loan

JAKARTA (JP): Chairman of the National Development Planning Board (Bappenas) Boediono is optimistic that the International Monetary Fund will disburse its next US$1 billion bailout sum to crisis-hit Indonesia.

He said on Tuesday that the aid would be disbursed as soon as the IMF board of directors convene later this week to review the country's economic reform programs.

"Usually, it is one or two days after the meeting that the money is disbursed," he told reporters when asked to comment on the delays in aid disbursement.

"I'm optimistic the bailout fund will be disbursed soon," he added. The IMF was expected to make a decision on the aid disbursement early this month.

The decision has been delayed as the agency's board of directors meeting scheduled to take place last Friday was postponed to this week, said IMF deputy general counsel William Holder on Tuesday on the sidelines of debt conference.

The IMF is organizing a multi-billion dollar bailout fund to finance the country's economic reform programs. The Fund had so far disbursed $6 billion out of its commitment to provide a total of $10 billion. (rei)