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.