Soeharto forms special team to monitor reform

JAKARTA (JP): President Soeharto formed a special team yesterday to monitor the implementation of the massive economic reform program agreed by the International Monetary Fund (IMF) in exchange for a multibillion-dollar bailout package.

The team, called the Economic and Monetary Resilience Council, will be headed by the President, with economic advisor Widjojo Nitisastro as secretary-general and Director General of Tax Fuad Bawazier as deputy secretary-general.

The team has three members: State Minister of National Development Planning Ginandjar Kartasasmita, chairman of the Federation of Domestic Private Banks A. Subowo and president of PT Bakrie Brothers Tanri Abeng.

"In facing the current situation, we need quick action and my own responsibility. That's why I have to lead this team, assisted by existing institutions," Soeharto said in a rare media briefing at his residence on Jl. Cendana, Central Jakarta.

He said the team would work together with IMF liaison officers, based in Jakarta, to monitor and review the implementation of the reform program.

Indonesia would still need IMF advice in implementing the reform program, for instance, in prioritizing or accelerating certain measures, he said.

"So the IMF is not just giving help once and then leaving. They also have interests (to make the program successful) because if it fails, the IMF will also lose face," he said.

IMF managing director Michel Camdessus said fears that some parties could "sabotage" the program were behind the decision to set up the council to oversee the program.

The President "has agreed to establish the committee, whose role will be precisely to make sure that nothing escapes the vigilance of the President himself and of key officials in charge of the implementation," Camdessus said.

He said a former deputy managing director of the IMF would become a special liaison between the IMF and the Indonesian government.

Soeharto explained the need to establish such an economic and monetary resilience council, saying it was to support national resilience, which included politically ideological resilience and social and cultural resilience.

"Now we have a crisis dealing with economic and monetary resilience, and we have to handle this," Soeharto said.

"We do not want to tackle this crisis alone, but with help from the Monetary Council and the private sector," he added.

The Monetary Council has the minister of finance, the governor of Bank Indonesia and the coordinating minister for economy and finance as its members.

Tanri, one of the council's members, said yesterday he was surprised by his unexpected appointment as member of the new team. But he welcomed the new duty, saying he would be happy to contribute ideas and energy to help restore confidence.

"I was surprised because I did not see any indication I would be included on the team," Tanri told journalists when leaving the office of the coordinating minister for production and distribution.

"As a citizen and professional, there is no holier duty than giving my energy and ideas to the nation in this difficult time," he said.

He said he often thought there was a need to establish such a team with enough authority to take measures to restore confidence.

"It is very proper to be headed by President Soeharto, who is an expert in managing crises," Tanri said.

"I strongly believe that we, with help from all layers of society, will eventually be able to manage and tackle this crisis," he said. (prb/rid)