Our future is at stake

Our future is at stake

The economic team of Indonesian President Megawati
Soekarnoputri is putting our future on the line following its
decision to opt for Post-Program Monitoring (PPM) in ending the
country's cooperation with the International Monetary Fund (IMF).

By the end of this year, Indonesia will no longer sign letters
of intent with the IMF. But by opting for the PPM the country
will remain under the IMF's monitoring and evaluation.

As a result of choosing this option, Indonesia's debt of
US$9.2 billion will have to be paid off by the year 2010, with an
annual installment ranging from $900 million to $1 billion.

Two blocks have emerged in the history of our economic
development.

The first block is more friendly with the IMF because it
believes in the importance of economic liberalism and is
enthusiastic about free trade and globalization.

The second block is more careful and proactive in national
economic development. It is always suspicious of economic
liberalism and globalization.

When Indonesia was plunged into the economic crisis, Soeharto
and his cronies, the Golkar Party, the bureaucracy and the
military were blamed, but nobody pointed their finger at the
country's economists.

We are afraid that our economy will plunge once again into
crisis due to misperceptions in the handling of our economy.

Our future is at stake, but there has been no commitment or
moral responsibility from our economists.

-- Republika, Jakarta