Soeharto forms special team to monitor reform
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)