IMF-plus

IMF-plus

First, let me convey my gratitude and appreciation to your two
series of analyses on the current Indonesia economic crisis.

Your analyses -- using language so that the common business
community could understand what's going on -- and suggested
solutions to counter the deteriorating crisis were really
helpful.

Let me quote one of your statements: "The crisis erupted
because of change of risk perception by the parties involved." I
would I like to contribute my opinion on the crisis in relation
to this statement.

Now, we are facing economic and political crises. The economic
crisis has been widely argued in the media by many experts. We
still have to deal more about the political crisis and, hence,
the need for political reforms, which include abolition of
monopolies and oligopolies, favoritism and nepotism.

To engage ourselves in economic reforms without, at the same
time, dealing with political reforms is getting us nowhere.

I am a Javanese and I have a built-in attitude called 'nggih-
nggih mboten kepanggih' (keep nodding but do nothing). I think
this is the case today. The government said "yes" to the IMF
requirements, but it continues to look for loopholes to get out
from the bond.

It is time the government considered seriously the merit of
the IMF-plus system so as not to create further confusion.

BK HADISOEBROTO

Jakarta