Sat, 03 Apr 1999

IMF's aggressiveness

I was surprised that the IMF really proposed more money for Indonesia, revised letters of intent and was optimistic on the IMF program.

A simple question crossed my mind: Can Indonesia afford to pay back the loan, when and by whom? As a taxpayer, I never feel the benefit of IMF aid. On the other hand, there will be more economic chaos ahead.

Remember, Indonesia's foreign debts have grown to US$150 billion and there is no one to blame for such a huge debt. Right from the outset, I never agreed to the IMF bailout program. It seems to me that there is no transparency in the deal with the IMF, and yet, the loan is not without strings, and there is no clear economic direction either. Why is the IMF so aggressive?

IRWAN IBRAHIM

Jakarta