RI needs $17b for recovery

RI needs $17b for recovery

MELBOURNE (AP): Indonesia needs another US$17 billion to get
its economy back on its feet, a special adviser to Indonesian
President B.J. Habibie said Wednesday.

"The total need of the country is about $60 billion to bail
out all the bad debts of the banks, to finance the social safety
net programs and the budget deficit," economist Frans Seda told
the Australia Unlimited conference in Melbourne.

Frans said the International Monetary Fund, other multilateral
aid agencies and several creditor countries had arranged about
$43 billion, leaving another $17 billion that Indonesia needs.

He later told reporters he believes Indonesia could raise
about $10 billion by selling off state-owned enterprises, and
therefore needs another $7 billion from the international
community.

Frans said he disagreed with an IMF assessment that Indonesia
would experience zero growth during the current Indonesian
financial year, which began April 1, saying he thought it would
continue to have negative growth.