Kosgoro urges govt to follow IMF measures

Kosgoro urges govt to follow IMF measures

JAKARTA (JP): The Kosgoro cooperatives movement, one of the
founding seven organizations of Golkar, urged the government
yesterday to follow all the suggested measures set by the
International Monetary Fund (IMF) to help overcome the monetary
crisis.

"The Indonesian government must fulfill all the requirements
established by the IMF, as long as they don't impinge the
nation's sovereignty," said Kosgoro in a statement, read out by
its chairman Bambang W. Soeharto.

Speaking at a media briefing here yesterday, Bambang said the
US$43 billion IMF rescue package should be used for the benefit
of the majority of people.

"The IMF package should not add to the already mounting
Indonesian foreign debt and must be used to finance all projects
which can provide direct benefits to the people," he said.

He also called for a fair, accurate and transparent
rescheduling of less productive development projects.

Bambang said the monetary crisis should be considered the
starting point to correct all national development concepts and
strategies.

"As a nation, we have to remain optimistic that we can restore
and improve our economy," he said.

Bambang said political reform was necessary but did not
elaborate on how or when it should occur.

When asked if political reform meant a change in national
leadership, Bambang replied: "Yes, but it should only occur after
the general meeting of the People's Consultative Assembly."

He added the government should include political experts along
with those from other fields in a national discourse, discussing
ways to overcome the crisis and anticipate further monetary and
economic disorder.

"All those experts will therefore feel responsible for
endeavoring to restore the nation's economy," he said.

Bambang urged the government to control and stabilize the
extreme price hikes of basic commodities.

He also urged the government to take firm action against
speculators, who were hoarding goods to gain from a higher price
at a later date.

In an effort to strengthen the rupiah, Kosgoro urged
businesses with their money in dollars to sell them and buy
rupiah.