RI has not drawn on S'pore aid

RI has not drawn on S'pore aid

SINGAPORE (Reuters): Indonesia has not asked to draw on the US$5 billion aid offered by Singapore, deputy prime minister Lee Hsien Loong said yesterday.

"They have not asked for it yet," Lee said in reply to a question on whether Indonesia had drawn on the fund offered by Singapore.

He was speaking to reporters after an awards ceremony.

On the additional $5 billion fund which Indonesia has said would be available to stabilize its currency, Lee said this was not a fixed sum.

"We have an understanding with the Indonesian central bank to intervene. But it depends on the situation so it is not a fixed limit," he said.

Lee's comments on the funds for currency stabilization were in line with past remarks by other Singapore government officials, who have consistently said the amount was not fixed.

However, the Indonesian central bank, Bank Indonesia, said on Tuesday Singapore's total assistance to Indonesia to help it overcome its economic crisis was $10 billion.

It said this comprised $5 billion for stabilization of the exchange rate and the rest to support Indonesia's balance of payments.